Asian stocks faltered on Monday as unease over a new coronavirus strain that was shutting much of the United Kingdom offset news a deal had finally been struck on a long-awaited US stimulus bill.
The British pound slid 1.1 percent to $1.3370 after several European countries closed their borders to the UK as the country entered a tougher lockdown to fight a new strain of coronavirus.
Prime Minister Boris Johnson will chair an emergency response meeting on Monday to discuss international travel and the flow of freight in and out of Britain.
That combined with the lack of a Brexit deal to cut 1 percent off FTSE futures, while EUROSTOXX 50 futures shed 1.5 percent.
Tata Motors, ONGC and GAIL were the top laggards in the Nifty basket of shares.
Highlights
New coronavirus strain is said to beup to 70%more transmissible
All 50 shares in Nifty basket fall, with Tata Motors, ONGC worst hit Domestic stock markets suffered their worst single-day loss in more than seven months on Monday tracking a selloff across global equities over fears of a new coronavirus strain that shut much of the United Kingdom. The Sensex index dropped 2,037.61 points, or 4.34 per cent, to 44,923.08 at the weakest level of the day, and the broader Nifty benchmark tanked to as low as 13,131.45, falling 629.1 points, or 4.57 per cent, from its previous close. A selloff across sectors led by banking, financial services, automobile and metal shares dragged the markets lower.
More help is on the way says U.S. Senate Majority Leader Mitch McConnell Published: December 21, 2020 03:20 Reuters Senate Minority Leader Charles Schumer answers reporters questions saying there will likely be a COVID-19 relief bill vote later on Capitol Hill Washington, D.C., U.S. Sunday, December 20, 2020. Image Credit: Reuters
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Asian stocks give guarded welcome to US stimulus, wary on Brexit By WAYNE COLE, Reuters
Published December 21, 2020 9:27am SYDNEY - Asian stocks traded sideways in Asia on Monday as investors gave a cautious welcome to news a deal had been struck on a long-awaited US stimulus bill, though difficult Brexit talks dragged on with no agreement in sight. Sterling slipped 0.8% to $1.3408 after several European countries closed their borders to the UK as the country entered a tougher lockdown to fight a new strain of coronavirus. Prime Minister Boris Johnson will chair an emergency response meeting on Monday to discuss international travel and the flow of freight in and out of Britain.
Markets seen in range, US stimulus deal likely to lift sentiment; DHFL in focus
On Friday, the BSE Sensex ended at 46,960.69, up 70.35 points or 0.15%. The Nifty closed at 13,760.55, up 19.85 points or 0.14%.
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MUMBAI: Indian equities may see a lower start on Monday as trends in SGX Nifty indicate a weak opening. On Friday, the BSE Sensex ended at 46,960.69, up 70.35 points or 0.15%. The Nifty closed at 13,760.55, up 19.85 points or 0.14%.
Asian stocks traded sideways in Asia on Monday as investors gave a cautious welcome to news a deal had been struck on a long-awaited US stimulus bill, though “difficult Brexit talks dragged on with no agreement in sight.