Markets end lower for third session on coronavirus worries

Reuters New Delhi, Delhi, India Feb 25, 2020, 05.13 PM(IST)

Coronavirus in India: what do we know so far Photograph:( WION Web Team )

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Tata Consultancy Services Ltd was the biggest gainers on the Nifty, rising 1.93 per cent, while Dr.Reddy's Laboratories Ltd was the major laggard, falling 2.81 per cent.

Indian stocks fell for a third straight session on Tuesday as concerns over the coronavirus outbreak hit risk sentiment, while US President Donald Trump's two-day visit did little to cheer investors.

The blue-chip Nifty ended 0.27 per cent lower at 11,797.90, while the Sensex shed 0.2 per cent end at 40,281.20.

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The Nifty index tumbled 2.1 per cent and the Sensex plunged nearly 2 per cent on Monday, in a global market selloff sparked by fears of a greater impact on economic growth from the rapid spread of the coronavirus outside China.

"Markets are quite shy of the near term and (worried about) what havoc coronavirus can play in terms of supply chain and global growth," said Saurabh Jain, assistant vice president research, SMC Global Securities.

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There was nothing much for the markets beyond the defence deals from Trump's visit, Jain added. India and the United States were making progress on trade, energy and military deals, U.S. President Donald Trump said on Tuesday.

Tata Consultancy Services Ltd was the biggest gainers on the Nifty, rising 1.93 per cent, while Dr.Reddy's Laboratories Ltd was the major laggard, falling 2.81 per cent.

The Nifty is off 5.1 per cent from its lifetime high hit on January 20, weighed down by the coronavirus outbreak and a lacklustre union budget.