Indian stocks suffer worst day in 4.5 years on virus panic, oil price crash

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Other South Asian markets and their currencies were also hit. FMTNews India Stock

BENGALURU: Indian stocks on Monday recorded their worst single-day fall in more than four years, tracking global markets lower, as panic over the economic fallout of the coronavirus outbreak intensified and oil prices plummeted.

“Panic is an understatement,” said Manav Chopra, head of research for equity at Indiabulls Securities Ltd in Mumbai. “Important support levels have been breached with ease in this environment,” he said of the Nifty 50. Analysts expect the decline in crude prices to help boost economic growth in India, one of the world’s top oil importers, but shares in large oil companies slumped on Monday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks plunge on virus fears, oil prices | The Malaysian InsightAsia stocks plunge on virus fears, oil prices
Source: msianinsight - 🏆 8. / 63 Read more »