Sensex down 2,600 points, Nifty below 8,000 as coronavirus worries deepen

Indian benchmark indices opened in red on Monday (March 23) with the Sensex going down 2,624.69 points or 8.77% at 27291.27, and the Nifty declining 757.05 points or 8.66% at 7988.40 due to coronavirus pandemic. 

About 90 shares have advanced, 860 shares declined, and 42 shares are unchanged.

Benchmark indices traded weakly in the pre-opeing session with the Sensex losing 2,372.42 points or 7.93% at 27543.54, and the Nifty plunging 792.35 points or 9.06% at 7953.10.

The Indian rupee opened at record low level at 75.69 on Monday after closing at 75.19 on Friday (March 20).

Sources said that Prime Minister Narendra Modi is likely to hold a meeting with all industry bodies on Monday to review the state of economy in the wake of the coronavirus pandemic. PM Modi is scheduled to preside the meet via video conferencing at 4 pm.

On Friday(March 20), the benchmark indices ended higher after breaking the four-days losing streak. The  Sensex was up 1,627.73 points or 5.75% at 29915.96, while the broader Nifty was also up 482 points or 5.83% at 8745.45. Major gainer stocks on the Nifty were Bharti Infratel, GAIL, ONGC, and UltraTech Cement, while Yes Bank, HDFC Bank, IndusInd Bank, and Adani Ports were top losers.