Equity benchmark indices opened sharply lower on Monday morning after the number of coronavirus cases outside of China increased and concern grew that global economic growth could take a more sustained hit.
Hindalco, Tata Steel, Tata Motors and Vedanta fell in the range of 4-5% respectively on the Nifty50, while Infratel, Infosys, TCS and Tech Mahindra are among top gainers.
India VIX surged 9.6% at 15.02. Except for IT index, all sectors were trading under pressure on the Nifty index.
The Sensex slumped 445 points at 40,724 and the Nifty also fell 135 points below its key level 11,950-mark.
The Indian rupee opened lower at 71.89 per dollar against Thursday's close of 71.65/$.
Meanwhile, the country's foreign exchange reserves swelled by $3.091 billion to a lifetime high of $476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to the RBI data.
Further, gold prices rose to their highest in over seven years, as a spike in coronavirus cases beyond China pushed investors to take refuge in the safe-haven metal.
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