Equity indices fall by 2.6% as US oil prices dip below zero dollar a barrel
Apr 21, 2020
New Delhi, Apr 21 (ANI): Equity benchmark indices slipped by 2.7 per cent during early hours on Tuesday in line with Asian peers after US oil prices slipped below zero dollar a barrel in overnight trade. US crude futures turned negative for the first time in history following a collapse in oil demand as the coronavirus pandemic derails the global economy. At 10:15 am, the BSE S&P Sensex was down by 870 points or 2.75 per cent at 30,778 while the Nifty 50 edged lower by 248 points or 2.69 per cent at 9,013. Except for Nifty pharma and FMCG, all sectoral indices at the National Stock Exchange were in the red with Nifty metal down by 5.2 per cent, auto by 5.1 per cent and private bank by 4.3 per cent. Among stocks, index heavyweight Reliance Industries) fell by 3.93 per cent to Rs 1,195.60 per share. Meanwhile, Asia shares were in the negative zone after an overnight tumble at Wall Street with US crude futures turned negative for the first time in history. However, it bounced back into positive territory this morning.
