MARKET LIVE: Sensex plunges 2,000 pts, Nifty near 9,400; YES Bank zooms 30%

Indian benchmark indices slipped almost six per cent, dragged down by financial institution stocks, on Monday as sell-off resumed following a day’s halt.

The uncertainity with regards to the impact of the coronavirus epidemic ongoing to maintain buyers cautious even nevertheless the US Federal Reserve lower interest premiums to in close proximity to-zero on Sunday in one more unexpected emergency move to enable shore up the US economic climate amid the rapidly escalating international coronavirus pandemic. Read Extra

The S&P BSE Sensex was down 2,025 details, or 5.ninety four per cent, at 32,two hundred ranges. Index-heavyweight HDFC slipped over 7 per cent following major Friday’s rebound rally. Condition Financial institution of India was also down over six per cent following Friday’s 13 per cent up move. IndusInd Financial institution was down over eight per cent.

In the meantime, Of course Financial institution surged over 30 per cent to as considerably as 35.70 per cent in a weak marketplace despite reporting a web loss of Rs eighteen,564.24 crore for the Q3FY20 quarter.

The broader Nifty50 index hovered all over nine,450 ranges, down 490 details, or 4.nine per cent. All the Nifty sectoral indices were trading in the crimson with Nifty Financial institution, Nifty Private Financial institution, and Nifty PSU Financial institution indexes (all down over 5% every single) taking the deepest cuts.

In the broader marketplace, the S&P BSE MidCap index was down 558 details, or 4.4 per cent.