Metal, auto stocks drag equity indices down amid coronavirus fears
Updated:5 years, 8 months ago
New Delhi, Feb 24 (ANI): Equities witnessed selling across the board during early hours on February 24 as the number of coronavirus cases outside China increased and concern grew that global economic growth could take a hit. At 10:15 am, the BSE S&P Sensex was down by 392 points or 0.95 per cent to 40,778 while the Nifty 50 dropped by 127 points at 11,954. Except for Nifty IT, all sectoral indices at the National Stock Exchange were in the negative zone with Nifty metal plunging by 3.1 per cent, pharma by 1.7 per cent and auto by 1.6 per cent. Among stocks, Hindalco suffered the most with a fall of 5.5 per cent at Rs 179.55 per share. Tata Steel dropped by 3.8 per cent, JSW Steel by 3.4 per cent and Vedanta by 3.3 per cent. Auto stocks too took a dip with Tata Motors slipping by 2.6 per cent, Eicher Motors by 2.3 per cent and Maruti by 2 per cent. ITC, ICICI Bank and HDFC slipped by nearly 2 per cent each. However, IT major gained with Infosys up by 1.4 per cent at Rs 808,45 per share. Tech Mahindra, Tata Consultancy Service and Wipro witnessed marginal gains. Meanwhile, Asian shares and oil prices slid as the spread of the coronavirus outside China darkened outlook for world growth.
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