Indian shares tumbled over 4 percent on Monday following a slide in global peers as fears intensified over the spread of coronavirus outbreak and oil prices plunged. The BSE Sensex ended 1942 points lower at 35,635 while the Nifty50 index settled 538 points higher at 10,451. A sell-off triggered by the economic fallout of the virus outbreak has wiped 9 percent off the Nifty in the past two weeks, with the drop worsened by the turmoil at Yes Bank, one of the country’s largest lenders.

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The Nifty hit its lowest since February 2019 and was on course for its worst day since August 2015.The virus outbreak has now infected over 107,000 people worldwide, claiming more than 3,300 lives and disrupting business supply chains.Oil prices also plunged around 25 percent on Monday, heading towards their biggest daily loss since 1991 after Saudi Arabia slashed prices and set plans for a big increase in crude production in April. Meanwhile, global share markets tumbled with the MSCI’s broadest index of Asia-Pacific shares outside Japan losing 3.7 percent in its worst day since 2015.

The broader markets also ended the day in the red with Nifty Midcap and Nifty Smallcap indices down around 5 percent each.

Among stocks, Yes Bank, BPCL, Bharti Infratel, and Eicher Motors were the top Nifty50 gainers, while ONGC, Vedanta, RIL, Zee, and IndusInd Bank led the losses.Shares in Yes Bank were up 32 percent, after falling 56 percent on Friday.

A court on Sunday remanded its founder in police custody after he was arrested on money-laundering charges, following a move by the central bank to take control of the lender.State-run Bharat Petroleum Corp was among the few gainers in the Nifty, rising over 5 percent, after India’s government invited initial bids on Saturday to buy a majority stake in the oil refining firm.Shares in oil-to-telecoms conglomerate Reliance Industries were down 13 percent, while state-run Oil and Natural Gas Corp plunged 16 percent amid the rout in oil prices.

First Published:Mar 9, 2020 3:37 PM IST