Mumbai,Dec 21:
Indian shares suffered their worst day in seven months on Monday in a broad sell-off after fresh lockdowns in the United Kingdom to curb the spread of a new strain of coronavirus hit investor sentiment.
The NSE Nifty 50 index ended 3.14% lower at 13,328.40, wiping out six straight sessions of gains up to Friday. The benchmark S&P BSE Sensex fell 3% to 45,553.96.The BSE Sensex tanked 1,407 points to 45,554 while the NSE Nifty50 ended the day 432 points down at 13,328.
Market capitalisation of BSE-listed firms tanked to Rs 178 lakh crore from Rs 185 lakh crore on Friday.The BSE Sensex tanked 1,407 points to 45,554 while the NSE Nifty50 ended the day 432 points down at 13,328.Investors on Dalal Street witnessed wealth erosion of over Rs 7 lakh crore
As many as 473 stocks on the BSE hit their lower circuit on the BSE. Some of the stocks in the list included Prozone Intu, SpiceJet, Graphite India, Vipul, Tata Steel PP and Hindustan Copper, among others.
Volatility index, or India VIX, climbed 21.74 per cent to 22.76. A sudden spike in volatility index suggests bear grip on the market with the upside capped.
European shares opened lower at 0800 GMT as investors worried about the economic impact of a new coronavirus strain which has seen several European countries shut their borders to the UK.
Aviation stocks were under pressure over the UK border closure with SpiceJet falling by 9.5 per cent to Rs 91.90 per share while InterGlobe Aviation cracked by 6.4 per cent to Rs 1,543.90.
Energy majors too were on a weak wicket as global oil prices dropped by about 3 per cent as a fast-spreading new coronavirus strain shut down much of the United Kingdom amid tighter restrictions in Europe.
ONGC fell by 8.4 per cent to Rs 90.65 per share while GAIL dipped by 7.6 per cent. IndianOil Corporation and Bharat Petroleum Corporation retreated by 6.8 per cent and 5.3 per cent respectively.
The other prominent losers were NTPC, Reliance Industries, Mahindra & Mahindra, Hindalco, IndusInd Bank and State Bank of India.
However, IT majors Infosys and HCL Technologies along with FMCG major Nestle India were in the green zone.