Domestic shares corrected sharply on Thursday amid weak global cues triggered by rising death toll from coronavirus spreading in China. Meanwhile, India on Thursday reported its first case of the novel coronavirus in Kerala, the government said in a statement. The patient, a student of the Wuhan University, is stable and in isolation at a hospital, a statement from the Health Ministry said. All the sectoral indices ended lower led by the pharma, metal, bank, energy, FMCG and infra.
Truck maker AB Volvo reported a smaller than expected fall in fourth-quarter earnings in the face of slowing demand and announced plans for a payout to shareholders that exceeded market expectations. European shares dropped as concerns mounted about the economic impact of an epidemic in China that has now claimed 170 lives. The STOXX dropped 0.9% heading for its sharpest weekly decline in nearly four months.
Nifty50 closed lower at 12035.80 level, -93.70 points, or -0.77 per cent. Nifty Support : 11970 and 11920 Resistance : 12100 and 12160.
