Indian retail investors watch stock prices outside the Bombay Stock Exchange. Agence France-Presse
Indian shares tumbled on Friday, as banking stocks came under pressure after the country’s central bank placed troubled lender Yes Bank under a moratorium and took over its board.
The Indian rupee has breached the 74 per dollar mark and experts feel that with continued global economic concerns and possibilities of further plunge in financial and oil markets, it may continue to witness volatility in the coming days.
The S&P BSE Sensex and NSE Nifty 50 indices suffered their biggest single-day selloff ever in absolute terms as the Indian markets entered a bear phase.
Indian stocks recovered sharply in afternoon trading on Friday after tumbling earlier in the session as major global markets were lifted by hopes that a US stimulus package could help limit the economic damage from the coronavirus outbreak.
Sweden's gross domestic product will shrink around 4.6% this year, the government said on Monday, outlining a budget bill that will pump around 105 billion crowns ($12.0 billion) into the economy to kick-start growth following the pandemic.
Brent crude was down 33 cents, or 0.8%, at $42.82 a barrel by 0645 GMT, while US crude was down 38 cents, or 0.9%, to $40.73 a barrel.
Most Asian markets fell Monday following another disappointing performance on Wall Street with investors growing concerned about an uptick in coronavirus infections in Europe and the United States, as well as the lack of movement in Washington on a new stimulus.