Indian stock market plunged today, Sensex tracked a collapse in the global equities amid scaling concerns about the impact of coronavirus outbreak on the global economy.
Global markets on track for the worst week since the global financial crisis!
The Sensex fell over 1,100 points to 38,601, within 5 minutes into domestic stocks wiping nearly Rs 4 lakh crore of investor wealth.
In the past five sessions, the Sensex has plunged over 1,550 points amid a global run.
The global markets are on the track of the worst week since the global financial crisis that occurred in 2008 as virus-related disruptions to international travel and supply chains fuelled fears of a recession in the US and Euro Zone.
Sensex Crash – Crores gone in minutes!
At 9:50 am, the BSE Sensex was at 1,145.29 points or 2.88 percent lower at 38,600. The NSE barometer Nifty fell 347.90 points that are 2.99 percent to 11,285.40. The BSE m-cap fell Rs 3.77 crore to Rs 148 lakh crore.
Within 5 minutes into trading stocks wiped nearly Rs 4 lakh crore.
All Nifty stocks were trading in the red. The worst performers were Tech Mahindra (down 5.60%), Tata Motors (down 5.13%), Yes Bank (5.03 %), JSW Steel ( 4.56%) and Vedanta (down 4.44%)
Asian markets plunged today, tracking a collapse on Wall Street overnight where the equities in Japan tanked 3.5% while China markets slumped to 2.5%.
Analyzing the data of the virus outbreak
The data showed that the virus has infected more than 83,000 people globally. Mainland China has reported 2,788 deaths among the 78,824 cases observed mostly in the central province of Hubei.
South Korea has also reported 256 new coronavirus cases on Friday, taking its total, the highest count in the world outside China to 2,022.
About ten countries reported their first virus cases in the past 24 hours, including Nigeria, the most populous country in Africa.