INDIA STOCK MARKETS ROILED BY CRUDE ROUT, COVID-19 SCARE

SHAKIR HUSAIN

NEW DELHI, March 9 (Bernama) -- India's stock markets were roiled by the growing COVID-19 scare and the global crude oil price crash on Monday.

The BSE Sensex plummeted 5.19 per cent to 35,663 and the NSE Nifty 50 index plunged 5.1 per cent to 10,428 points in the afternoon, tracking global market woes.

Investors are also worried about India's financial sector stability following the Reserve Bank of India's intervention last week to save Yes Bank, one of the country's leading banks, from collapse.

Global benchmark crude oil price crashed 30 per cent due to oversupply concerns on Monday before paring some losses.

Although the oil price fall is good news for India's huge energy import bill, the worsening global economic scenario is likely to damage the Indian economy and investor sentiment.

-- BERNAMA

 

 TAGS: India, COVID-19, Stock Market, Crude Oil, Investors