Mumbai, March 30:The Indian markets opened in the red amid the increasing fears around coronavirus and its devastating impact on the economy. It recovered some of its losses during the initial few hours of trading but was not able to hold back as it ended 1,400 points down or 4.87 per cent, to 28,360 levels. Nifty50 index hovered around 8,260 levels, down 390 points, or 4.52 per cent. The rupee slipped 32 paise to 75.21 against US dollar in early trade.
The total number of coronavirus cases in India touched 1,071 and the death toll jumped to 32. The Indian markets tracked the negative sentiments on the global markets. The Asian markets slid on Monday as fears mounted that the global shutdown for the coronavirus could last for months. E-Mini futures for the S&P 500 skidded 1.2 per cent right from the bell, and Japan’s Nikkei 3.2 per cent. Oil Prices at 17-year Lows as Coronavirus Ravages World.
On Sunday, US President Donald Trump said the peak death rate in the US from the novel coronavirus is likely to hit in two weeks as he extended the coronavirus guidelines, including social distancing, until April 30. Crude oil benchmarks dropped on Monday, extending last week’s losses as the global coronavirus pandemic worsened. Brent futures fell 5.6 per cent to $23.53 a barrel.