Domestic shares slumped on Monday amid weak global cues as the number of Covid-19 (coronavirus) cases outside China surged. The Nifty ended below its 100 days simple moving average placed at 11,955.66.Global sentiment took a beating following reports that South Korea put the country on high alert after the number of infections hit more than 700 and deaths rose to seven. In Italy, officials said the number of cases jumped to above 150 from just three last week.
U.S. private equity Blackstone Group would raise its proposed offer price to buy Japan’s hotel chain Unizo Holdings to 6,000 yen ($53.78) per share, topping a bid by U.S. investment fund Lone Star.European equities tumbled the most since October on Monday as investors fled risk assets amid rising concerns about the economic impact of the spreading coronavirus.The Stoxx Europe 600 Index fell as much as 2.6%.
Nifty50 closed lower at 11829.40 level, -251.45 points, or -2.08 per cent. Nifty Support : 11780 and 11750 Resistance : 11900 and 11950.
