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Sensex was down 2,112 points as Covid-19 rattles global markets

Domestic markets plunged again on Monday as investors around the globe remain worried about the uncertainty over the novel coronavirus outbreak. Both benchmarks — Sensex and Nifty — slid sharply in morning trade, taking cues from global market conditions. At around 9:40 am, BSE Sensex was down 2,112 points or 6.19 per cent at 31,990.92, while NSE Nifty again descended below 9,500, falling as much as six per cent or 600 points.Heavy selloff was observed across the market on Monday after a day’s halt as uncertainty prevails over the financial impact of Covid-19. Even an emergency interest rate cut from the US Federal Reserve on Sunday failed to cheer investors. Economic experts are of the view that markets around the globe could be battered over the next few weeks as the virus rapidly spreads across some countries that are major trade hubs. They expect a recovery only when there is a substantial drop in new cases. All sectoral Nifty indexes were trading in red, with banking bleeding the most.

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