Mumbai, Mar 16 (GCBusiness) Erasing Friday’s smart gain, the equity market on the first trading day of the week dropped by 2000 points to 32,103.58 points in opening trade following heavy selling in Materials, Metals, Bankex, Power stocks.
The Nifty of National Stock Exchange (NSE) too fell by 450.65 points at 9504.55.
The effect of the coronavirus epidemic continued to keep investor sentiment in-check even though the US Federal Reserve cut interest rates to near-zero on Sunday in another emergency move to help shore up the US economy amid the rapidly escalating global coronavirus pandemic.
The Sensex registered intra-day high and low at 33,103.24 and 31,921.07, respectively.
The Nifty recorded day intra-day high and low at 9,602.20 and 9,339.25 points, respectively.
The sectoral indices like Realty, Technology, Power and Metal stocks kept the market under pressure, broker informed.
The losers were IndusInd Bank by 14.57 per cent to Rs 688.50, ICICI Bank by 7.55 pc to rs 413.65, Bajaj Fiance by 7.29 pc to Rs 3666.90, Axis Bank by 6.87 pc to Rs 529.15 and Infosys by 6.53 pc to Rs 600.25.