Scare of rapidly-spreading coronavirus keeps India indices in the red

Workers in protective suits monitor a screen showing the thermal scan to check temperatures of passengers arriving at the Nanjing Railway Station,in Nanjing, China. Photo: Reuters
The benchmark Sensex dropped another 188 points on Tuesday in line with weak global sentiment triggered by the rapidly-spreading coronavirus.

 

After gyrating over 463 points during the day, the 30-share index settled 188.26 points, or 0.46 per cent, down at 40,966.86. The broader Nifty50 closed 63.20 points, or 0.52 per cent, down at 12,055.80.

 

Most Asian markets, too, finished in the red, but European indices showed signs of a rebound  after the previous day’s thumping, which saw investors worried about the economic fallout from the coronavirus outbreak in China huddle in safe-haven assets.

 

US stock indices, too, opened higher on Tuesday after the S&P 500 suffered its worst day in nearly four months.

 

In contrast with the Indian markets, the rupee clocked its first gain after three days of losses, recovering by 12 paise to close at 71.31 against the dollar.

 

Also, spot gold was down 0.2 per cent to $1,578.13 per ounce in London as of 7.32 pm, having touched its highest since January 8 on Monday.

 

Brent crude, however, was oscillated between positive and negative territory.



Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel