In the previous session on Friday, Sensex ended 131.18 points (0.44%) lower at 29,815.59, while Nifty closed 18.80 points (0.22%) higher at 8,660.25.
Equity benchmark Sensex plunged over 1,375 points on Monday on Monday amid losses in global equities as cases of coronavirus infections crossed 7 lakh worldwide.
After hitting a low of 28,708.83 o in the morning session, the 30-share scrip could not recover and ended 1,375.27 points or 4.61% lower at 28,440.32.
Broader Nifty fell 245.30 points, or 2.83%, to 8,414.95 in the opening session and lost 379.15 points, or 4.38%, to close at 8,281.10.
In the previous session on Friday, Sensex ended 131.18 points (0.44%) lower at 29,815.59, while Nifty closed 18.80 points (0.22%) higher at 8,660.25.
Bajaj Finance, M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank were some of the biggest losers. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers in the market.
Biggest economies of the world, Europe, the US, the UK, India nd China are most affected by the novel coronavirus with the spread of the disease putting much of impacted countries on lockdown. In India, the government has announced a 21-day lockdown till April 14 and only essential services and supplies are allowed to operate during this period.
Last week, the International Monetary Fund (IMF) reassessed the prospects for growth for 2020 and 2021 and said the world is in the face of a devastating impact due to the coronavirus pandemic.
"It is now clear that we have entered a recession as bad or worse than in 2009. We do project recovery in 2021," IMF Managing Director Kristalina Georgieva stated.
Analysts in India said the stimulus package announced by the government and the Reserve Bank of India (RBI) will have limited effect.
On the global front, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading significantly lower.
The number of COVID-19 cases in India surged past 1,000 to 1024 on Sunday while the death toll reached 27, according to the Ministry of Health and Family Welfare.
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