The BSE benchmark Sensex nose-dived over 2,300 points, while Nifty tanked over 5% to below 10,400 on Monday amid global sell-off as the coronavirus spread rapidly around the world. 

The 30-share Sensex plunged 2,326.35 or 6.19% at 35,250.27 while NSE Nifty crashed 646.95 or 5.89% at 10,342.50 in the afternoon trade. In the last two trading sessions, investors have collectively lost a market cap of Rs 10 lakh crore. The carnage in the equity market wiped out investor wealth worth Rs 4,79,820.87 crore, taking the total m-cap to Rs 1,39,39,640.96 crore on the BSE.

The Yes Bank crisis also hurt the sentiment back home.  Among the Sensex stocks, all the 30 components were in the red.

TCS, ICICI Bank, IndusInd Bank and Tata Steel were down between 6% and 8%. ONGC slumped over 10%, biggest single-day fall in 12-year. Shares of Reliance Industries Limited (RIL) plunged 13%, the most since October 2008, losing Rs 1.08 lakh crore in market cap in one-single day. Following this, the market-cap of the company came down to Rs 7 lakh crore.

The Indian rupee continued its downward journey on Monday, sliding another 16 paise to 74.03 against the US dollar in opening trade.

Global rout

Asian equity markets collapsed today with Japan’s Nikkei slumping over 6% as the rapidly spreading coronavirus fuels fears of a global recession while a crash in oil prices added to the panic. Australian shares close down 7.3%. EuroSTOXX 50 futures last traded down 6%, German DAX futures dropped 5.6% and FTSE futures fell 6.5%.

Dow futures were down 1,200 points today, indicating a sharp selloff on Wall Street.

stay connected with us! For more updates

LIKE SHARE and SUBSCRIBE

if you like the article information then press the like button, Comments you’re opinions about this article and share it with family and friends on social media platforms

SUSCRIBE Quickclarity news to get latest news update

Thank you for reading.