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Metal and auto stocks were worst hit in FY20 amid broad sell-off
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MUMBAI : Metal and auto stocks were the worst hit in the just-ended financial year as investors dumped equities in favour of less risky bets following the global outbreak of covid-19.
The BSE Metal index lost 49.69%, while the BSE Auto index plunged 42.92% in the last financial year. The outbreak in China in December led to a sharp decline in metal demand and overall prices, while the slowdown in the Indian economy for several quarters drove sales of automobiles lower during the fiscal.
Benchmark indices Sensex and Nifty, in contrast, lost 23.8% and 26.03%, respectively, in FY20, the worst since FY09. For BSE Metal index, FY20 was the worst in two fiscal years.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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