Today's Paper

Sensex slumps 2,919 points, Nifty sinks to 33-month low

Indian benchmarks register their biggest single-day fall

A day after the World Health Organization (WHO) declared the coronavirus outbreak a pandemic, equity markets worldwide went into a bear phase — denoted by more than 20% fall from the recent highs of the benchmarks.

The Indian benchmarks registered their biggest single-day fall on Thursday, with the Sensex plunging 2,919.26 points, or 8.18%, to close at 32,778.14 — over 22% lower than its January high of 42,273.87. This was the lowest close for the index in nearly two years.

Deep losses

All 30 stocks in the Sensex ended the day with deep losses, with heavyweights such as HDFC Bank, TCS, Axis Bank, ONGC, State Bank of India (SBI) and ICICI Bank shedding over 9% each on Thursday. Most of the Sensex constituents touched their 52-week lows.

The dampened investor sentiments could be further gauged from the fact that more than 500 stocks touched their lower circuit on the BSE, even as 2,265 stocks ended in the red as against only 201 gainers.

The broader Nifty fell below the psychological 10,000 mark to close at its lowest level since June 2017. The index lost 868.25 points, or 8.30%, to close at 9,590.15. The India VIX index jumped over 31% after witnessing a jump of 35% on Monday last.

The announcement by President Donald Trump restricting travel to the U.S. from Europe further dented investor sentiments.

Recommended for you