Markets start FY20-21 in red; Sensex below 28750-mark

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The domestic equity benchmark indices opened lower on Wednesday, first day of the financial year 2020-21, in proportion to Asian counterparts amid growing concerns of COVID19 impact. While the Asian markets remained significantly weak, a jump in Australian stocks subsequently aided the equities.

At around 10.15-am, the BSE Sensex traded 748-pts points lower at 28,719-mark, while the Nifty-fifty index stood at 8,383-mark, down 214-points at 8383-mark.

IndusInd Bank, Gail India, BajajAuto, HeroMotoCorp and Zee Entertainment led the fall among Nifty-50 pack of stocks, while Kotak Mahindra Bank, Bharat Petroleum Corp, AdaniPorts, Reliance Industries and Tech Mahindra were the top gainers. Track the best stock to watch today, latest market updates from here.

Indian currency markets are shut today due to annual bank closing. The equity markets will further be a holiday on April 2, 2020 on account Ram Navami.

In the financial year 2019-20, the Indian rupee lost a massive 9.36-percent mainly on account the weak sentiment across the world on account of Covid19 outbreak.

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