Sensex Tanks 458 Points As Bank, Metal Stocks Crash
Sensex lost 458.07 points to close at 41,155.12, while Nifty finished at 12,119.00, down 129.25 points..
Equity markets witnessed heavy losses on the first day of the week leading to the Union Budget 2020, as both Sensex and Nifty lost more than a percent,
The 30-share BSE Sensex lost 458.07 points to close at 41,155.12, while the broader 50-share NSE Nifty finished at 12,119.00, down 129.25 points.
The downturn in the markets came on back of metal and bank stocks as sub-indices Nifty Metal and Nifty PSU Bank tanked 3.09 percent and 2.25 percent, respectively.
According to analysts, global investors increasingly turned nervous as fears over the global economic impact of the deadly China virus extended last week's selloff.
On the domestic front, analysts expect the cautious trend to continue in the near-term since a lot has been factored in the market about budget wish list and expectation of revival in earnings growth, but the actual Q3 results have been below par.
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