Published on 22/04/2020 3:41 | Source: ANI

Sensex tanks over 1000 points as US oil prices dip below zero dollar a barrel

Posted in Business Videos| #Sensex

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Mumbai: Equity benchmark indices plunged by over 3 per cent on Tuesday after US oil prices slipped below zero dollar a barrel in overnight trade and President Donald Trump announcement that he will sign an executive order to temporarily suspend immigration. US crude futures turned negative for the first time in history following a collapse in oil demand as coronavirus pandemic derails the global economy. A rapidly rising number of COVID-19 infections in India and the resultant deaths also put pressure on bourses. At the closing bell, the BSE S&P Sensex was down by 1,011 points or 3.2 per cent at 30,637 while the Nifty 50 edged lower by 280 points or 3.03 per cent at 8,981. Except for Nifty pharma, all sectoral indices at the National Stock Exchange were in the red with Nifty private bank down by 5.8 per cent, financial service by 4.6 per cent, auto by 5.3 per cent and metal by 5.1 per cent. Among stocks, IndusInd Bank was the top loser after slipping by 12.2 per cent to Rs 400.75 per share.