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

Reuters Bengaluru, Karnataka, India Jan 28, 2020, 05.58 PM(IST)

File photo Photograph:( Reuters )

Story highlights

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.

 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% at 12,055.80, while the Sensex lost 0.46% 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.

The Nifty metals index hit a more than 1-month low before ending down 2.39%.

Mining group Vedanta was at the bottom of the Nifty 50 with a 4.5% decline. Tata Steel Ltd fell 3.5%, while JSW Steel shed 2.9%.

Maruti Suzuki India Ltd fell 2.1% after its December-quarter profit missed analysts' estimates.