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Markets Mid-session, Bank Stocks hard hit

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The domestic stock markets, which commenced with the Lower Circuit, have moved further into the negative territory through mid-session. At 12.55-pm, the Sensex declined by 3218 points to 26697 and the Nifty slipped 919 points to 7826-mark.

The Nifty Private Bank cracked the most, down by 14.26 percent, the Nifty common Bank index dropped 13.46-percent, Financial Service down by 12.42 percent at the same time.

Among stocks, Asian Paints slipped 11.50 percent to Rs1,542.85-per share as the company reportedly shuts manufacturing operations till March 31. Get the updated best stocks tips  and the top stocks to watch today from the expert.

Similarly, Shree Cement slipped 12.27 percent to Rs16,585.05-per share as the company is also undertaking steps to close all plants in Rajasthan until March 31.

Shares of Ashok Leyland slipped 17-97 percent to Rs.36.05-per share as the company will now acquire about 7 percent stake in Hinduja Leyland Finance

Many states in India will remain under a lock-down until 31-March, as India has clocked 341 cases of Covid-19.