More

    Sensex crashes over 1,100 points on global rout, Rs 5 lakh Crore investor wealth wiped off

    Must Read

    VMC Health department raids shops selling fafda-jalebi on the occasion of Dussehra

    31 shops raided and 33 food samples collected by the teams Ahead of Dussehra,...

    Special vigilance at the Vadodara RTO office during Corona pandemic

    Vadodara RTO office is functioning with special vigilance measures amidst Corona pandemic. Applicants and office workers who...

    COVID-19: India records 54,366 new infections, 690 deaths

    COVID-19 recoveries in India crossed 69 lakh, while the number of coronavirus infections reported in a span...

    Market benchmark Sensex plummeted over 1,100 points, wiping off over Rs 5 lakh crore investor wealth, in opening session on Friday amid a massive selloff in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.

    The 30-share index sank 1,100.27 points, or 2.77%, to 38,645.39, while the NSE Nifty cracked 329.50 points, or 2.83%, to 11,303.80,

    All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

    In the previous session, the Sensex settled 143.30 points, or 0.36%, lower at 39,745.66, and the Nifty fell 45.20 points or 0.39% to end at 11,633.30.

    According to analysts, till last week the market was of the view that coronavirus was going to have minimum impact on global economy as situation in China was being contained. But the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

    Further, constant selling by foreign investors is also spooking domestic market participants, traders said.

    On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.

    Stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 4 per cent in their morning sessions. On Wall Street, the Dow Jones Industrial Average dropped 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1 per cent.

    The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago.

    World oil prices too tumbled by more than 4 per cent overnight as traders fretted about the impact of spreading coronavirus on crude demand, particularly from key consumer China.

    Brent crude oil futures fell another 2.47 per cent to USD 50.45 per barrel early in the day. The rupee depreciated 28 paise to 71.89 against the US dollar in morning session.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Latest News

    Special vigilance at the Vadodara RTO office during Corona pandemic

    Vadodara RTO office is functioning with special vigilance measures amidst Corona pandemic. Applicants and office workers who...

    Special vigilance at the Vadodara RTO office during Corona pandemic

    Vadodara RTO office is functioning with special vigilance measures amidst Corona pandemic. Applicants and office workers who come for work including licence,...

    COVID-19: India records 54,366 new infections, 690 deaths

    COVID-19 recoveries in India crossed 69 lakh, while the number of coronavirus infections reported in a span of 24 hours remained below...

    Deepika Padukone wishes Prabhas, good health and happiness on his birthday

     Deepika Padukone will soon be sharing screen space with Prabhas in Nag Ashwin’s next Marking her co-actor Prabhas’...

    PM Modi to launch his campaign for Bihar assembly elections with three rallies today

    Prime Minister Narendra Modi will start his campaign for Bihar Assembly elections today. On the first day, he will hold rallies in...

    More Articles Like This

    - Advertisement -