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Sensex suffers another big selloff, plunges about 1,400 points. What experts say
Indian shares today suffered a big selloff today with Sensex falling nearly 5%, ending the session 1,375 points lower at 28,440. The broader Nifty 50 index closed down 4.38% at 8,281. Latest government data showed positive coronavirus cases in India rising to 1,071 and death toll at 29. Investors remained cautious despite the Reserve Bank of India on Friday announcing a slew of measures to cushion the economic impact from the virus, including a 75 basis-point rate cut. Among private banks, HDFC Bank, ICICI Bank and Kotak Bank slumped 7% to 8%. Elsewhere, HDFC and Bajaj Finance plunged 11% to 12%.