Sensex plunges over 700 points, Nifty below 9,000 in early trade

WION Web Team
New Delhi Published: May 18, 2020, 10:51 AM(IST)

File photo. Photograph:( Reuters )

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Around 10 a.m., the Sensex was trading at 30,359.56. lower by 738.17 points or 2.37 per cent from the previous close of 31,097.73.

BSE Sensex plunged over 700 points while the Nifty50 on the National Stock Exchange (NSE) also fell over 200 points, below the psychological 9,000 mark.

India on Sunday extended a nationwide lockdown to May 31, while easing some restrictions, but a ban on air travel and several public gatherings still remained. As of Monday, India's tally of coronavirus infections surged past 96,000, while deaths surpassed 3,000.

The fall can be attributed to the extension of the nationwide lockdown and the disappointment in several quarters over the economic package, according to Reuters.

Around 10 a.m., the Sensex was trading at 30,359.56. lower by 738.17 points or 2.37 per cent from the previous close of 31,097.73.

It had opened at 31,248.26 and has so far touched an intra-day high of 31,248.26 and a low of 30,265.67.

The Nifty50 was trading at 8,916.70, lower by 220.15 points or 2.41 per cent from the previous close.

Shares in drugmaker Cipla Ltd jumped 2% after March-quarter results on Friday and its filing of a new drug application for a generic version of GSK's blockbuster lung drug Advair.

Indian oil-to-telecoms conglomerate Reliance Industries Ltd gained 1% after unveiling yet another sizeable investment in its digital arm.

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