Coronavirus Spreads To Sensex; Index Closes 458 Points Lower

Fears of the Carona Virus spreading, dragged Indian benchmark indices lower, as investors dumped stocks. Global sentiments were weak, as stocks were sold into on fears that trade and travel would be disrupted slowing the global economy.

From Europe to Japan, benchmark indices collapsed with the Japanese Nikkei ending the day almost 2 per cent lower. The German DAX was down 1.5 per cent, while the French CAC lost 1.63 per cent.

Back home the Sensex fell as much as 458 points to close the day at 41,155 points. The Nifty too fell and ended sharply lower by 129 points. Metal stocks were the worst performers in trade with Vedanta and Tata Steel dropping as much as 3 per cent. The other notable losers in trade were JSW Steel and IndusInd Bank.

Shares in ICICI Bank ended the day on a positive note, after the bank reported a splendid set of numbers for the quarter ending Dec 31, 2019. Wockhardt saw its shares jump 17 percent after the company reported profits for the quarter ending Dec 31, 2019, as compared with a loss in the year-ago period.

APL Apollo was another stock that did well in trade, after profits at the company surged. The company's shares also hit a new 52-week high.

Meanwhile, the rupee was trading lower at 71.48 to the dollar.