Sensex tumbles over 500 points in early trade, Nifty slips below 9,200-level; Bajaj Finance top laggard, sheds up to 5%
FirstpostThe benchmark indices opened in the red in the opening session of the stock markets on Friday-24 April. Shares fell over 1 percent tracking weak global markets, after US data underscored the economic damage caused by the coronavirus pandemic and reports that an experimental drug to treat COVID 19 showed inconclusive results. Sensex tumbled over 500 points in early trade dragged by losses in banking and IT stocks amid weak cues from global markets. In the previous session, the BSE barometer surged 483.53 points or 1.54 per cent to close at 31,863.08, and the broader Nifty advanced 126.60 points, or 1.38 per cent, to settle at 9,313.90. Fitch Ratings has slashed India’s economic growth projection to 0.8 per cent in the current 2020-21 fiscal, saying an unparalleled global recession was underway due to the COVID-19 crisis.