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Sensex and Nifty begin with low points

Share market started with low points in the early hours of trade where Sensex dropped over 200 points in the opening session. The 30-share index dropped 202.44 points, or 0.51 per cent, to 39,686.52, while the NSE Nifty fell 62.75 points, or 0.54 per cent, to 11,615.75. The spread of corona virus is being cited the reason behind the fall.

Top losers in the Sensex pack included HCL Tech, HDFC Bank, TCS, M&M, IndusInd Bank, Sun Pharma, ICICI Bank and Reliance Industries.

On the other hand, Titan, NTPC, Nestle India and Kotak Bank were trading with gains.

According to analysts, intense spread of corona virus is pushing investors away. There is sharp foreign fund outflow led by strong dollar index, as investors reduce their exposure to emerging markets amid global uncertainty.

On a net basis, foreign institutional investors sold equities worth Rs 3,336.60 crore, while domestic institutional investors bought shares worth Rs 2,785.67 crore on Wednesday, data available with stock exchanges showed.

Brent crude oil futures fell 1.19 per cent to USD 52.18 per barrel.

The rupee appreciated 2 paise to 71.63 against the US dollar in morning session.


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