UC News

Top automaker Mahindra and Mahindra slumped over 7 percent

Top automaker Mahindra and Mahindra slumped over 7 percent

toyota had suspended production from around mid-March in france, britain, the czech republic, poland, turkey and Portugal. toyota Motor Corp said on monday that it would extend a suspension at all of its factories in europe with the exception of russia until further notice, with a restart expected no earlier than april 20. india, too, faces a much higher risk rate as the daily increase in confirmed cases has been on the rise for the past week. The sentiment seems to be reflected in the country’s stock market as anxiety grows over the outcome. Asian and US stocks also fell as cases continue to fall due to rising cases around the globe. In the US, the risk seems to be greater at the moment as the death toll has spiked rapidly over the past few days.



With the spread of the coronavirus epidemic, toyota had suspended production from around mid-March in france, britain, the czech republic, poland, turkey and Portugal. Its Russian factory will be closed from march 30 to april 3. It has already halted production in all of North America. While markets crawled back marginally by 9:48 am, Sensex was still down over 550 points. Nifty, however, regained 8,500 points. Even then, volatility remains high given the present global and domestic outlook.



All sectoral indexes showed signs of weakness as investors’ sentiments remain jittery due to subdued business activity due to the lockdown. banking stocks showed signs of weakness in early trade after the bank OF INDIA' target='_blank' title='rbi-Latest Updates, Photos, Videos are a click away, CLICK NOW'>rbi announced a fresh 75 basis points. auto stocks also fell as the sector remains worried about the overall economic impact of Covid-19. Top automaker mahindra & mahindra slumped over 7 per cent.Not just india but global stocks also showed signs of weakness as stimulus packages announced by central banks and governments around the world failed to cheer up markets.

READ SOURCE
Open UCNews to Read More Articles