India’s stock plummets the most in more than a month on Monday as the country extends nationwide lock and effects of the latest US-China tension over the coronavirus pandemic.
S&P BSE Sensex is down 5.33% to 31,914.53, as of 1:51 p.m. in Mumbai — the biggest drop since March 23. The NSE Nifty 50 Index also dropped by 527.50 points or negative 5.35% to 9,533.50. Both stocks reported their biggest monthly gains since 2009 in April and have rebounded nearly 30% from lows touched a month earlier.
Global stocks dropped significantly after Trump’s comments on China’s misleading actions in handling the COVID-19 pandemic.
Prime Minister Narendra Modi extension of the stay-at-home orders for two weeks from May 4 contributed to the country’s stock plummet.