Sensex loses 10%, Rupee hits new low amid coronavirus fears

A day after at least 75 Indian districts were put under lockdown to control coronavirus spread, Sensex, Nifty nosedived in the opening session and rupee hit a new low on Monday.

BSE Sensex lost 2,991.85 points or 10 per cent and was trading at 26,924.11, while, NSE Nifty tanked 720.55 points to 8,024.90, as per the latest updates.

The Indian rupee also fell to a new low and was trading below 76 against the US dollar.

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Asian markets mostly reported losses in the early trade as coronavirus concerns continue to haunt investors.

Hong Kong's Hang Seng declined 3.7 per cent, Singapore down 7.5 per cent and Seoul lost 3.4 per cent.

Tokyo, however, witnessed gains and was up 0.5 per cent as a cheaper yen against the dollar encouraged the market.

On Sunday, India reported three coronavirus deaths on a day when India witnessed a self-imposed curfew to control the spread of the pandemic. The coronavirus-infected cases in India also surged nearly to 400 in India.

Indian markets witnessed some recovery on Friday, led by gains in IT sector as 30-share-index closed 5.75 points higher at 29,915 and Nifty rose 5.83 per cent to finish at 8,745.