Taking Stocks: Crude shock leads to bloodbath on D-St; Sensex plunges 1000 points
Episode 2432, Apr 21, 2020, 12:00 PM
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It was the crude shock, along with weak global cues, and muted March quarter earnings which led to a sharp knee jerk reaction on D-Street. The S&P BSE Sensex plunged by over 1000 points while the Nifty50 closed below 9000 levels.
U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first-ever sub-zero dive, said a Reuters report. Global benchmark Brent crude also fell sharply to $20/ barrel in response to the collapse of demand following reduced economic activity, said a Reuters report.
U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first-ever sub-zero dive, said a Reuters report. Global benchmark Brent crude also fell sharply to $20/ barrel in response to the collapse of demand following reduced economic activity, said a Reuters report.