Sensex drops over 200 points to end at 34,962, Nifty closes at 10,312

Equity benchmark indices traded with a bearish bias on Monday amid jittery global cues as coronavirus cases continue to surge across several countries including India.

Selling pressure aggravated for realty, PSU banks and metal stocks as investors drove funds to safer assets with flickering hopes of early economic recovery.

The BSE Sensex closed 209.75 points or 0.6% lower at 34,961.52 after touching the intra-day high of 35,032.36 and the low of 34,662.06. 

Similarly, the Nifty 50 edged lower by 70.60 points or 0.68% at 10,312.40. 

Except for Nifty FMCG, all sectoral indices at the National Stock Exchange were in the negative zone with Nifty realty down by 3.5%, PSU bank by 3.3% and metal by 2.6%.

Axis Bank was the top loser in the Sensex pack, losing 4.78%, followed by Tech Mahindra, SBI, L&T, IndusInd Bank, Infosys and NTPC. 

HDFC Bank, Hindustan Unilever, Kotak Bank, Bharti Airtel, ITC and M&M were among the gainers. 

In the Nifty pack, Coal India was the top loser after slipping by 4.9%, followed by Axis Bank, Tech Mahindra, Hindalco, SBI and Wipro while Britannia, HDFC Bank, Cipla, Kotak Bank and ITC were among the gainers.

Meanwhile, Asian share markets were on shaky ground as the spread of coronavirus led investors to question the optimism on the global economy. Japan`s Nikkei shed 2.3%, Hong Kong`s Hang Seng fell by 1.01% and South Korean Kospi slid by 1.93%.