Sensex down 1055 points and Nifty opens 256 points down on first day of the week as coronavirus infection spreads

  • BSE is trading at 29,011 points and Nifty is trading at 8,442 points
  • RBI had cut the repo rate to give relief to the economy

After the fall on Friday, the Indian market is seeing a decline on Monday. The Sensex opened 1055.90 points down at 28,759.69 points. Similarly, Nifty also opened down 256.20 points at 8,404.05. BSE started trading down 3.54% and Nifty down 2.96%. The government and RBI have announced several steps to give relief to the economy and the common man after a 21-day lockdown. RBI had announced to extend the EMI payment three months further with the repo rate reduced.

US markets closed in the fall on Friday
US markets were down in Friday trading. The Dow Jones and others were under pressure due to fears of rising unemployment. The Dow Jones was down 4.06% or 915.39 points at 21,636.80. The Nasdaq Composite was down 3.79% or 295.16 points at 7,502.38. Similarly, S&P was down 3.37%. S&P was down 88.60 points at 2,541.47 points at the close of business.

Markets fell on Friday despite major RBI steps
The last day of the week was full of volatility for the Indian stock market. The Sensex managed to open up 801.04 points and the Nifty 307.65 points, but fluctuated until 11 pm after the market closed. The Sensex closed down 131.18 points or 0.44% at 29,815.59. The repo rate has been cut by 0.75% by the Reserve Bank of India, even after this the market did not see an increase. Earlier on Thursday, the Sensex gained 1410.99 points to 29,946.77 and the Nifty gained 323.60 points to finish the business at 8,641.45.

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