Market LIVE: Equity benchmarks Sensex, Nifty have slumped on Monday following trends in the global markets where shares have plunged on fear of coronavirus outbreak. Sensex plummeted 458 points or 1.10 per cent in intraday to finish the day’s trade at 41,155.12 while the Nifty 50 index was trading at 12,119.00, down 129 points or 1 per cent at the time of closing Monday. Mahindra & Mahindra has topped the Sensex pack with 1.63 per cent growth. Ultratech Cement has re-established its position on the Sensex pack after phenomenal Q3 results released on Friday. ICICI Bank is holding on to its strong position both on the Sensex and the Nifty50 index. Tata Steel, IndusInd Bank, HDFC BANK, SBI dragged the Sensex down
The government has issued the preliminary information memorandum for 100 per cent stake sale in Air India. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS. The successful bidder will also get management control of the airline. The government has set March 17 as the deadline for submitting the Expression of Interest (EoI).