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India’s Stocks Post Record Losses as Virus Lockdown Kicks In

  • S&P BSE Sensex Index plummeted 13%, biggest loss ever
  • Prompt financial, monetary measures can help: Kotak Mahindra
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India’s stock indexes posted their worst losses on record, as the world’s second-most populous nation went into a lockdown after the number of coronavirus cases in the country surpassed 400.

The S&P BSE Sensex Index tumbled 13% to 25,981.24 at the 3:30 p.m. close in Mumbai - its biggest one-day drop ever since data going back to 1979 -- while the NSE Nifty 50 Index sank by a similar amount. The gauges triggered a trading halt earlier in the day, after a 10% fall within minutes of the opening bell tripped circuit breaker. The regional MSCI Asia Pacific Index lost 3.1%.