National Chronicle
Business/Economy Top News

Market update: Sensex flat in early trade, oil companies up

New Delhi: Indian stock markets tried to regain balance on Monday after suffering heavy losses in Saturday’s special budget session. Sensex rose more than 100 points, while Nifty traded above 11,700. Asian Paints was the main winner among Sensex shares, with a 2.5% increase. Oil marketing companies BPCL, HPCL and Indian Oil gained between 1% and 2% as oil prices fell today amid concerns about the impact of the coronavirus on the global economy.
China’s stock markets fell almost 9% today when they opened after the Lunar New Year’s recess, even when regulators moved to stable markets. Other Asian markets also fell sharply, with the Taiwan benchmark initially falling 2.8%. The falls followed a bleeding day on Friday on Wall Street.
The central bank of China said it will inject 1.2 billion yuan ($ 173 billion) into the markets to ensure there is sufficient liquidity.

Chinese authorities reported on Monday that the number of people infected by the virus increased to more than 17,000 as of Sunday night, while the death toll crossed more than 360 people.

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