Sensex plummets 458 points as China virus fears grip markets globally

 Benchmark Sensex plunged over 458 points on Monday following intense selloffs in many overseas markets amid fears over the global economic impact of China's deadly coronavirus.

After tumbling nearly 500 points during the day, the 30-share BSE index settled 458.07 points, or 1.10 per cent, lower at 41,155.12.

Likewise, the broader NSE Nifty closed 129.25 points, or 1.06 per cent, down at 12,119.

Tata Steel was the top loser in the Sensex pack, diving 4.31 per cent, followed by IndusInd Bank, HDFC twins, SBI, PowerGrid and Bharti Airtel.

On the other hand, M&M, UltraTech Cement, Tech Mahindra, ICICI Bank and Axis Bank rose up to 1.63 per cent.

Markets across the world are increasingly turning volatile on concerns over the global economic impact of the coronavirus after China announced sharp increases in the number of people affected in the outbreak, analysts said.

Many financial markets were closed in Asia for Lunar New Year holidays.

Japan's Nikkei sank over 2 per cent. Stock exchanges in Europe too opened significantly lower.

Brent crude oil futures dropped 3.24 per cent to USD 57.95 per barrel.

On the currency front, the Indian rupee depreciated by 15 paise to 71.48 per US dollar (intra-day).