Nifty, Sensex rattled by U.S. crude plunge [Reuters]
ICICI Bank Limited (IBN)
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Source: Reuters
Nifty, Sensex rattled by U.S. crude plunge BENGALURU (Reuters) - Indian shares dropped sharply on Tuesday, tracking losses in global markets, following a historic overnight plunge in U.S. crude oil that amplified the blow to the world economy from the coronavirus-led lockdowns. The NSE Nifty 50 index fell 2.85% to 8,999.95 by 0355 GMT, while the benchmark S&P BSE Sensex was down 2.84% at 30,747.13. Oil-to-retail conglomerate Reliance Industries Ltd was the biggest drag on the indexes, falling as much as 3.5%. The losses were broad-based, with the Nifty Bank Index plunging 4.2%, its most since April 3. Private-sector lender ICICI Bank Ltd fell for the second straight day, tumbling 6.2%. West Texas Intermediate futures bounced back into positive territory on Tuesday after plunging below zero, but were still just $1.76 a barrel. MSCI’s broadest index of Asia-Pacific shares outside Japan fell half a percent, while the Dow Jones Industrial Average ended 2.44% lower and the S&P 500 lost 1.7
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