Trading stopped for 45 minutes after Sensex plunges 10% over Covid-19 scare

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world’s reserve currency.

Trading has been stopped for 45 minutes after the S&P BSE Sensex dipped 10% on Monday as the rapidly spreading coronavirus pandemic prompted the Centre to order lockdown in major states amid increasing fears that the outbreak could hit world economies badly.

According to traders, extreme lockdown measures taken by government in India and world over has put immense pressure in investor sentiment. (PTI)

Nifty was down by 842.45 points at 7903.00.

Equity markets witnessed a relief rally on Friday after four days of fall. The BSE benchmark ended 1,627.73 points or 5.75% higher at 29,915.96. The Nifty gained 482 points, or 5.83%, to close at 8,745.45.

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world’s reserve currency.

Global markets also crumbled with MSCI’s broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

(With agency inputs)