New Delhi: Domestic equity market benchmarks Sensex and Nifty closed lower on Monday amid concerns about economic fallout due to coronavirus outbreak. “Indian markets opened negative following negative global cues. The mood of the markets remained impacted amid rising apprehension about economic fallout due to Chinese coronavirus globally and an increase in casualty figures surpassing the SARS outbreak, raising alarm bells about its severity. Some pessimism also came in with report that as many as 400 infrastructure projects, each worth Rs 150 crore or more, have been hit by total cost overruns of over Rs 4 lakh crore owing to delays and other reasons,” Narendra Solanki, Head of Fundamental Research- Investment Services, Anand Rathi Shares & Stock Brokers said.
