Investors lose Rs 8 lakh crore as indices gauge effects of lockdown

Investors lost Rs 7.90 lakh crore  within minutes of opening trade on Monday as Sensex and Nifty gauged the economic impact of a lockdown in most Indian states.

While Sensex plunged 2,600 points to 2,7608, Nifty lost 720 points to 8,000. All Sensex stocks were trading in the red.

ICICI Bank (10%), Ultratech Cement (9.84%) and Axis Bank (9.71% )were top Sensex losers.

On Nifty, Ultratech Cement (10%), Bajaj Finance (10%) and Maruti (10% ) were the top losers.

Amid rising number of coronavirus cases in India, government has imposed lockdown in 75 districts from Monday. These districts  include Delhi, Mumbai, Kolkata among others. All Metro, trains and other transport facilities will remain suspended till March 31.

Only essential services such as dairies, grocery shops, chemists and petrol pumps will remain open for public convenience.

Positive coronavirus cases have reached 396 mark in India with seven people losing their lives.

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