Domestic stock market Sensex plummeted over 700 points in early trade today tracking losses in index heavyweights Reliance Industries, Kotak Bank, HDFC Bank and Infosys amid weak cues from global markets.
Starting the new financial year on a negative note, the 30-share BSE barometer was trading 714.74 points or 2.43 per cent lower at 28,753.75.
Similarly, the NSE Nifty fell 199 points, or 2.31 per cent, to 8,398.75.
Kotak Bank was the top loser in the Sensex pack, cracking up to 8 per cent, followed by SBI, Infosys, HDFC Bank, Tech Mahindra and UltraTech Cement.
On the other hand, IndusInd Bank and PowerGrid were the gainers.
In the previous session, the Sensex closed the financial year 2019-20 higher by 1,028.17 points or 3.62 per cent at 29,468.49. The Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75.
However, during the fiscal, the Sensex plunged 9,204.42 points or 23.80 per cent, while the Nifty sank 3,026.15 points or 26.03 per cent.
Brent crude futures, the global oil benchmark, fell 0.76 per cent to USD 26.15 per barrel.
The number of COVID-19 cases in India has stood at around 1,400, according to health ministry log. While there are more than 1,200 active cases, over 100 have been cured.
Deaths around the world linked to the pandemic crossed have 40,000
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