NEW DELHI: Equities indices slumped in the opening session on Tuesday with benchmark BSE sensex falling more than 900 points, dragged down by IT, banking and energy stocks amid weak global signals after the US crude futures USA They fell below zero when demand collapsed due to the coronavirus pandemic.
The BSE index of 30 stocks fell 944 points or 2.98 percent to 30,704; while the broader NSE Nifty crashed 278 points or 3 percent to 8,984.
The main laggards in the sensex package included IndusInd Bank, Tata Steel, Bajaj Finance, Axis Bank, Maruti, ICICI Bank and ONGC with their shares falling as much as 7.24 percent.
In NSE, Nifty Auto, Bank, Private Bank and Media dragged up 4.39 percent.
According to traders, the domestic market plummeted after the massive sell-off of global stocks as the drop in the crude oil market hit sentiment from investors around the world.
US oil prices USA They fell to unprecedented lows on Monday as futures in New York ended in negative territory for the first time amid devastating oversupply that has forced traders to pay others to remove the oil from their hands. With little room to store oil, the US benchmark West Texas Intermediate (WTI) for May delivery fell to – $ 37.63 per barrel.
However, US oil prices rebounded above zero on Tuesday. WTI crude for May delivery was changing hands at $ 0.56 a barrel in New York.
Additionally, concerns about rising Covid-19 cases also kept investors nervous, traders said.
The number of deaths from the pandemic increased to 590, while the number of cases in the country increased to more than 18,600.
Meanwhile, the Indian rupee depreciated by 30 paise to 76.83 against the US dollar in opening trade, monitoring weak domestic stocks and strengthening the US dollar abroad.
In the previous session, sensex closed higher for the third consecutive day, after oscillating between gains and losses. At the close, the sensex rose 59.28 points or 0.19 percent to 31,648. Meanwhile, the NSE Nifty barometer fell 4.90 points or 0.05 percent to 9,261.85.
Foreign portfolio investors (FPIs) were net sellers in the capital market on Monday as they downloaded capital shares worth Rs 265.89 million, according to provisional exchange data.
(With contributions from the agency)
The BSE index of 30 stocks fell 944 points or 2.98 percent to 30,704; while the broader NSE Nifty crashed 278 points or 3 percent to 8,984.
The main laggards in the sensex package included IndusInd Bank, Tata Steel, Bajaj Finance, Axis Bank, Maruti, ICICI Bank and ONGC with their shares falling as much as 7.24 percent.
In NSE, Nifty Auto, Bank, Private Bank and Media dragged up 4.39 percent.
According to traders, the domestic market plummeted after the massive sell-off of global stocks as the drop in the crude oil market hit sentiment from investors around the world.
US oil prices USA They fell to unprecedented lows on Monday as futures in New York ended in negative territory for the first time amid devastating oversupply that has forced traders to pay others to remove the oil from their hands. With little room to store oil, the US benchmark West Texas Intermediate (WTI) for May delivery fell to – $ 37.63 per barrel.
However, US oil prices rebounded above zero on Tuesday. WTI crude for May delivery was changing hands at $ 0.56 a barrel in New York.
Additionally, concerns about rising Covid-19 cases also kept investors nervous, traders said.
The number of deaths from the pandemic increased to 590, while the number of cases in the country increased to more than 18,600.
Meanwhile, the Indian rupee depreciated by 30 paise to 76.83 against the US dollar in opening trade, monitoring weak domestic stocks and strengthening the US dollar abroad.
In the previous session, sensex closed higher for the third consecutive day, after oscillating between gains and losses. At the close, the sensex rose 59.28 points or 0.19 percent to 31,648. Meanwhile, the NSE Nifty barometer fell 4.90 points or 0.05 percent to 9,261.85.
Foreign portfolio investors (FPIs) were net sellers in the capital market on Monday as they downloaded capital shares worth Rs 265.89 million, according to provisional exchange data.
(With contributions from the agency)
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