Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 310 points at the opening bell.
Overseas, Asian stocks were trading lower on Monday as S&P, Dow and Nasdaq futures entered a free fall amid a dramatic oil market crash and concerns over the coronavirus-hit global economy slowdown.
In US, stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified.
Back home, key benchmark indices crashed on Friday after Yes Bank was placed under a "moratorium" on 5 March 2020, with the RBI capping depositor withdrawals at Rs 50,000 per account for a month and superseding the board with immediate effect. Sentiment was also dented due to dismal global cues as the spreading coronavirus epidemic stoked fears of a prolonged economic slowdown. The barometer BSE S&P Sensex plunged 893.99 points or 2.32% to 37,576.62. The Nifty 50 index plummeted 279.55 points or 2.48% to 10,989.45.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 3594.84 crore on Friday, 6 March 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2543.78 crore, on Friday, 6 March 2020, as per provisional data.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
