Sensex nosedives over 1,400 pts on global carnage and Nifty below 11K; coronavirus fears to blame
Equity benchmark Sensex plummeted over 1,400 points in opening session on Friday led by massive selloff in global stocks as volatility peaked amid rising concerns over the economic strain of the coronavirus outbreak. The rupee too depreciated 53 paise to 73.86 against the US dollar in morning session. Incessant foreign fund outflow also spooked market participants, traders said.
After sinking 1,459.52 points in early trade, the 30-share index was down 1052.33 points, or 2.74 per cent, at 37,418.28, and the NSE Nifty plunged 318.30 points, or 2.82 per cent, to 10,950.70.
In the previous session, the 30-share BSE barometer settled 61.13 points or 0.16 per cent higher at 38,470.61, and the Nifty advanced 18 points or 0.16 per cent to finish at 11,269. (Photo: Reuters)
Foreign institutional investors (FPIs)
Yes Bank share price
Shares of Yes Bank tanked 25 per cent after the capital-starved lender was placed under a moratorium, with the Reserve Bank of India (RBI) capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
The rare move, made by the RBI and the government, came hours after finance ministry sources confirmed that State Bank of India (SBI) was directed to bail out the troubled lender. (Photo: Reuters)