Nifty, Sensex fall for second day as China virus fears persist

Indian shares on Tuesday gave up early gains to settle lower for a second straight day, as worries persisted about the economic impact of the coronavirus outbreak.

The death toll from the virus crossed 100, with millions stranded in China during the biggest holiday of the year and expectations that the travel restrictions will hurt economic activity.

The Nifty closed down 0.52 per cent at 12,055.80, while the Sensex lost 0.46 per cent to settle at 40,966.86. Metal stocks fell again on Tuesday on fears about the financial impact of the coronavirus outbreak on the metals supply chain. China is the largest steel producer and consumer in the world.

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[A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Courtesy: Reuters) ]

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The Nifty metals index hit a more than 1-month low before ending down 2.39 per cent. Mining group Vedanta was at the bottom of the Nifty 50 with a 4.5 per cent decline. Tata Steel Ltd fell 3.5 per cent, while JSW Steel shed 2.9 per cent.
Maruti Suzuki India Ltd fell 2.1 per cent after its December-quarter profit missed analysts' estimates.