Indian equity market plunges in early morning trade on Monday by 1500 points. Investors were not assuming that lockdown will extend again. PM Modi announced the extension of lockdown till 17 May.
Government has designated 130 districts as red zones including metropolitan cities, which will remain under strict lockdown. Also 248 districts are designated orange zones and 319 districts as green zones. Both green and orange zones will be allowed some relaxations on economic level.
Despite among such huge selloff, Pharma sector rally up to 4%. Alembic Pharmaceuticals Ltd, Sun Pharma, Cipla, Cadila Healthcare among the top gainers.
Bluechip company Reliance Industries which rallied by 8% after Facebook Jio deal plunges 1.5% in early trading.
Hindalco, Tata Motors, Vedanta, ICIC Bank amonth the top loosers.