Market extends losing streak for third consecutive session
At close, Sensex was down 502.25 points or 0.62% at 80,182.20, and the Nifty was down 137.15 points or 0.56% at 24,198.85.
Domestic markets lost shine during the intraday trade after starting the day on a strong note tracking gains in global markets, which rebounded after Federal Reserve’s statement to ease economic fallout from the outbreak of deadly Coronavirus. The S&P BSE Sensex was up over 69 points and NSE Nifty was up by 60.65 points.
Sentiments across global markets improved over Federal Reserve’s statement last week that the central bank would use its tools and “act as appropriate to support the economy”.
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At 11.43 pm the Sensex was up 69.83 points at 38,213.85 while the Nifty traded at 11,193.40, higher by 60.65 points
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Earlier in the day, the benchmark Sensex advanced over 500 points.
Brent the global oil benchmark edged higher by 2.50 per cent to $ 53.20 a barrel.
On Monday’s trade, Sameet Chavan of Angel Broking said that markets started with a huge gap up opening around the previous session high, however, the last hour news of two cases found of coronavirus in Delhi and Telangana created havoc which erased morning gains.
(With input from agencies)
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