Amid weak global cues Sensex and Nifty end session down by 2 per cent

The Indian equity markets started the week on very weak note. The equity benchmark indices Sensex and Nifty ended Monday's session down by nearly 2 per cent each taking cue from weak global markets.

The Sensex closed at 40363.23, losing 806.89 points (1.96 per cent) while the Nifty closed 2.08 percent down, at 11,829.40. The top five losers on the Sensex were Tata Steel, ONGC, Maruti Suzuki, Titan and HDFC which closed down by 6.39 per cent, 4.72 per cent, 4.24 per cent, 3.42 per cent and 3.29 per cent, respectively. The sentiment was so bad that non-of the stocks in 30 share index Sensex was able to end in green. At the broader level BSE mid cap and small cap indices closed down by 1.60 per cent and 1.5 per cent respectively. Other sectoral indices such as BSE Metal, Auto, Telecom closed down by 5.71 per cent, 3.39 per cent and 3.33 per cent respectively in today's trade.

The market sentiment took hit after spread of deadliest coronavirus in China forced global economist to cut outlook for world growth. The global trade setup is expected to get disrupted owing to prolonged shut down in China. China is one of the largest trade partner of India and any disruption in their economy will impact India. For India specific effect of virus could be supply disruption in electronic parts and medicines.