Markets suffer biggest single-day crash on coronavirus fears

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Mumbai: Equities were on a freefall on Thursday after the World Health Organisation (WHO) declared coronavirus a global pandemic and the United States suspended travel from Europe.

According to the reports, nearly Rs 10 lakh crore of market cap was wiped out as the Nifty and Sensex crashed today morning in the biggest single-day decline ever.

Sensex closed on March 12, 2020 at 2,919.26 points lower at 32,778.14. Similarly, Nifty ended 868.25 points low at 9,590.15.

In the previous season, Sensex closed on March 11, 2020 at 62.45 points higher at 35,697.40. Similarly, Nifty ended 6.95 points high at 10,458.40.

All the sectoral indices ended in the red, with Nifty PSU Bank index slipped over 12 per cent followed by Energy (down 9.4 per cent), metal, IT and Pharma down over 8 per cent each.

The rupee is trading at 74.218 against the dollar.

Meanwhile, global shares crumbled after US President Donald Trump put a 30-day ban on travel to the United States from Europe in an effort to curb the spread of coronavirus.
Investors were worried over more disruptions to businesses and the world economy even though Trump said trade will not be affected by the restrictions.

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