Indian Indices Trade Lower; Tata Steel & HDFC Bank Top Losers

Share markets in India are presently trading lower amid weakness in global equities as investors grew anxious about the economic impact of China's spreading virus outbreak.

Asian markets fell today as fears over the global economic impact of the China virus hurt the sentiment. Oil prices also plunged more than 2% today, extending last week's sell-off.

Sectoral indices are trading mixed with stocks in the metal sector and telecom sector witnessing selling pressure, while healthcare stocks and realty stocks are witnessing buying interest.

The BSE Sensex is trading down by 186 points (down 0.5%), while the NSE Nifty is trading down by 54 points (down 0.4%).

The BSE MidCap index and the BSE SmallCap index are trading up by 0.6%.

The rupee is currently trading at Rs 71.39 against the US$.

In news from the commodity space, gold prices gained in Indian markets today, lifted by higher global rates. February gold futures rose 0.5% to Rs 40,560 per 10 gram, extending gains to the third day.

Tracking gold, silver prices also edged higher. Silver futures gained 0.8% to Rs 47,291 per kg.

In global markets, gold rates rose 0.6% to US$ 1,586 an ounce as concerns over the spread of coronavirus in China spurred investors to buy the safe-haven metal.

China's health authorities on Sunday said coronavirus transmission ability is getting stronger as the death toll reached 80 and the number of infected rose over 2,000.

The US Centers for Disease Control and Prevention confirmed a second US case of the coronavirus in the country, denting appetite for riskier assets.

Note that gold prices had jumped to a more than two-week high on Friday as the latest updates on the coronavirus dented risk sentiment, and prompted a flight into safe-haven assets.

Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.2% to 900.6 tonnes on Thursday.

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