Benchmark indices tumbled in the opening trade on Friday tracking another steep fall on Wall Street, with banking stocks seen coming under pressure after the country's central bank placed Yes Bank under a moratorium and took over its board.
The Sensex plunged 1,281.85 points or over 3% at 37,189 and the Nifty slumped 386 points or 3.4% at 10,882.70. Around 74 shares have advanced, 802 shares declined in today’s trade.
HUL is the only gainer on the Nifty50 index, Yes Bank tanked 15%, followed by IndusInd Bank, Tata Motors, SBI and Hindalco are among major losers on the Nifty.
Nifty PSU Bank index cracked over 5% as heavy selling was seen in SBI, Canara Bank, PNB and Union Bank.
Asian markets were also trading lower, with benchmark indices in China, Hong Kong, Australia, New Zealand, South Korea and Japan falling 1-3% as the spread of coronavirus accelerated in Europe, Britain and North America.
The Indian rupee opened lower at 73.94 against the US dollar compared with Thursday's close of 73.35. The rupee is at the lowest level since October 2018.
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