(RTTNews) - Indian shares fell on Thursday, with benchmark indexes Sensex and Nifty hitting fresh three-year lows in intraday trade, as investors continued to fret about coronavirus pandemic and the risk of wider financial contagion.
The benchmark S&P BSE Sensex tumbled 581.28 points, or 2.01 percent, to 28,288.23 as the total number of confirmed cases in India climbed to 166, including 25 foreigners. The broader NSE Nifty index ended down 205.35 points, or 2.42 percent, at 8,263.45.
BPCL, ONGC, Shree Cement, Zee Entertainment Enterprises and Infratel lost 10-18 percent, while Power Grid Corp, HDFC Bank, Infosys, Bharti Airtel and ITC surged 2-7 percent. Indiabulls Housing Finance shares tanked nearly 36 percent.
The rupee hit a fresh record low of 75.0100 as a flight into cash boosted demand for the greenback.
The U.S. dollar extended gains and remained on course for its biggest winning streak since 1992 against its peers, as emergency stimulus measures launched by governments and central banks around the world failed to ease investor fears that the world economy is heading toward a recession.
Market regulator SEBI has extended a month for filing quarterly corporate governance report amid the virus scare.
"Developments arising due to the spread of the virus warrant the need for temporary relaxations in compliance requirements for listed entities," SEBI said in a statement.
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