The Indian stock market registered a sharp decline on Monday amid lockdown extension by the government, Zero sales from top auto manufacturers and concerns over tension between USA and China. Investors lost nearly 6 lakh crore during the session.
Government has extended the nationwide lockdown for another two weeks on Friday, while after May 4 easing some restrictions in green zones. But what remain restricted are most of the commercial activities like malls, restaurants, hotels, gyms and cinema halls across the country.
The Nifty closed 5.74% lower at 9293.50 and the Sensex fell 5.94% to 31715.35.
Till now both the NSE and BSE are down by 23% due to fear-related to corona virus pandemic which has impacted markets worldwide.
Most of the European markets and US oil price also fell down after U.S. Secretary of State Mike Pompeo said on Sunday that there was “a significant amount of evidence” that the corona virus emerged from Chinese laboratory but China contradicts it by calling it a bluff by Pompeo.