The stock markets opened at 166.05 points lower at 35,468.90 whereas NIFTY started at 10,334 which was down to 117.15 points. COVID 19 has been the major reason behind the fall of the global markets.
In early Asian trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.29 per cent, Australian shares down 2.02 per cent and Japan’s Nikkei stock index down 1.28 per cent. US stock futures traded 2.2 per cent lower.
Analysts say investors need to remain on guard for further market volatility, because the coronavirus still poses a risk to public health in many countries, which could place additional strains on the global economy.
Top percentage gainers were Yes Bank, Zee Entertainment, Reliance Industries, Bharti Infratel and Hero MotoCorp, trading between 2.59 per cent and 14.82 per cent higher.
On the other hand, GAIL, Infosys, Cipla, Tech Mahindra and Wipro – down between 2.45 per cent and 4.13 per cent – were the top Nifty losers.
Reliance Industries and ICICI Bank were the biggest contributors to the gain in Sensex, together accounting for a rise of 225 points in the index.