Sensex plummets over 2,100 pts; Nifty drops below 7,900
Mumbai: Equity benchmark Sensex plummeted over 2,100 points and the Nifty gave up the 7,900 level in opening session on Thursday as global gloom over the Covid-19 pandemic continued to hammer equities.
The rupee too depreciated 60 paise to 74.87 against US dollar in morning session. After sinking over 2,152 points, the BSE barometer was trading 1812.19 points or 6.28 percent lower at 27,057.32 at 0930 hours.
Similarly, the NSE Nifty was trading 520.85 points, or 6.15 per cent, down at 7,947.95 after dropping below 7,900 in early session.
In the previous session, the 30-share BSE index closed 1,709.58 points or 5.59 per cent lower at 28,869.51. On similar lines, the broader NSE Nifty plummeted 498.25 points, or 5.56 per cent, to end at 8,468.80.
Bajaj Finance was the top loser, tanking up to 12 per cent, followed by HCL Tech, IndusInd Bank, Kotak Bank and M&M, while PowerGrid and NTPC were the only gainers.
According to traders, European Central Bank's (ECB) EUR 750-billion stimulus package failed to lift investor sentiment, stoking the already-peaking fears of an economic recession.
Faced with a growing economic shutdown amid the new coronavirus (Covid-19) pandemic, the ECB on Wednesday announced a surprise EUR 750-billion scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the economic damage from the new coronavirus (Covid-19).
Bourses in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 8 per cent. Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.
On a net basis, foreign institutional investors sold equities worth Rs 5,085.35 crore on Wednesday, data available with stock exchanges showed.
Meanwhile, Brent crude oil futures rose over 1.61 per cent to USD 25.28 per barrel.
The number of global Covid-19 infections has shot past 2,00,000. Worldwide fatalities topped 8,000.
Cases in India rose to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Health Ministry.
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38-year-old man murdered inside hotel in Mundgod; hunt on for accused
Karwar: A 38-year-old man was killed by a group of assailants inside a hotel in Mundgod on Friday night, police said.
The deceased has been identified as Zameer Ahmed Dargawale, a resident of Noorani Galli.
According to police sources, Zameer had gone to the hotel along with a friend at around 11 pm. During this time, three to four unidentified men allegedly entered the premises, threw a substance into his eyes and attacked him with a knife.
Police said the attackers allegedly stabbed him in the neck. Though he reportedly tried to run for safety, he collapsed in the hotel kitchen and died on the spot.
Investigators said Zameer had allegedly been kidnapped around one-and-a-half years ago and was later rescued in a police operation. He was also reportedly named in five cases, including betting-related offences.
Sirsi DSP Geeta Patil Geeta Patil and Uttara Kannada SP Deepan M N visited the scene and inspected the spot.
The body has been shifted to Karwar for post-mortem examination. Police said three teams have been formed to trace the accused.
