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Sensex Falls Over 200 Points; Nifty Dips Below 12050

Indian shares followed their Asian peers lower on Monday as the death toll from the coronavirus outbreak surpassed the SARS epidemic, prompting Goldman Sachs to cut its Q1CY20 real GDP growth forecast for China to 4 percent from 5.6 percent earlier.

The benchmark S&P BSE Sensex dropped 210 points, or 0.51 percent, to 40,931, while the broader NSE Nifty index was down 63 points, or 0.52 percent, at 12,035.

Tata Steel slumped 4.2 percent after it posted a consolidated net loss of Rs 1,228.53 crore for the December quarter amid a tough operating environment.

Mahindra & Mahindra lost 3.2 percent after its quarterly net profit plunged 73 percent from last year.

SAIL declined 3.4 percent on news the government plans to sell 5 percent stake in the company through an offer for sale.

Hinduja Global Solutions soared 20 percent on reporting a 94 percent jump in Q3 consolidated net profit.

Cipla advanced 0.7 percent after it acquired four brands from Wanbury.

YES Bank gained 0.6 percent after it received shareholder approval to raise capital up to Rs 10,000 crore via issuance of equity shares or other convertible securities.

DLF edged down slightly. The realty major said it is eyeing around Rs 5,000 crore revenue over the next two years from sale of independent floors in Gurugram and Panchkula in Haryana.

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