Sensex cracks 2,500 points, Nifty slips below 9,800 mark amid virus fears
At 11am, Sensex fell 2,520.10 points to trade at 33,177.30 while Nifty slipped 722.5 points to trade at 9,724.50. This is the first time since March 26, 2018, that Nifty dropped below the 10,000 mark.
The equity market opened in red on Thursday with the blue-chip Nifty falling below 9,800 points mark for the first time in two years and the BSE Sensex plunging over 18. The crash comes on the heels of WHO declaring coronavirus outbreak a pandemic and US announcing a ban on travellers from Europe for 30 days.
At 11am, Sensex fell 2,520.10 points to trade at 33,177.30 while Nifty slipped 722.5 points to trade at 9,724.50. This is the first time since March 26, 2018, that Nifty dropped below the 10,000 mark.
All sectoral indices on the NSE were deep in the red, with losses led by Nifty Metal, Media, IT, and Bank.
The rupee plunged 82 paise to 74.50 against US dollar in early trade.
Global equity markets also crumbled after President Donald Trump announced that US will suspend all travel from Europe, barring the United Kingdom, for 30 days as he unveiled measures to contain the coronavirus pandemic.
Brent crude oil futures plunged over 5% to $34 per barrel, after the travel ban.
According to traders, volatility peaked in global markets after WHO’s announcement describing the coronavirus outbreak as a pandemic.
Besides selloff in global equities, massive plunge in international oil prices and depreciating rupee added to investor concerns, they added.
(With PTI inputs)