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Sensex, Nifty Crash on Lockdown Fears: 7 Must-Know Updates
As covid-19 cases continued to rise, Indian markets opened nearly 2.4%t lower on Monday, likely due to a complete lockdown in Maharashtra and more states imposing localised curbs. At the day's low, the Sensex fell nearly 1,500 points to 48,112, while the Nifty fell below 14,400.
Here are seven stock market updates from India:
1) Rupee
On Monday, the Indian rupee fell in early trade. It opened 22 paise lower at 74.96 per dollar, down from Friday's close of 74.74, amid domestic equity market weakness. The Indian rupee fell to 74.74 per dollar on April 9 after closing at 74.60 on Thursday.
2) PSU Stocks
Bank of Baroda, Canara Bank, IOB, Punjab and Sind Bank led the Nifty PSU Bank index lower by 6%.
| 83.273 |  | United States Dollar |
3) Quarterly Results
TCS, a software services firm, is expected to report March-quarter results today, kicking off India's corporate earnings season.
4) Inflation data
Today will see the release of industrial production for February and CPI inflation for March, while WPI inflation for March will be announced on Wednesday. CPI will be 5.4 percent in March, up from 5.03 percent a month ago, according to Bloomberg analyst estimates, while IIP will be -3 percent in February, down from -1.6 percent a month ago.
5) Gold prices
Gold prices fell on Monday as Treasury yields rose in response to data showing very strong readings for US inflation and a faster economic recovery, putting pressure on the safe-haven metal.
6) Nifty Auto
The Nifty Auto index fell 4%, dragged down by Ashok Leyland, Motherson Sumi, and Tata Motors.
7) Infosys
On April 12, the stock of Infosys hit a 52-week high of Rs 1,480 after the IT company announced that it would consider a share buyback during a meeting on April 14.
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