Indian Market: Sensex crashed 2872 pts during week
Mumbai/IBNS: The benchmark index of Bombay Stock Exchange (BSE) slumped by 2,872.83 points or 6.98 per cent to settle at 38,297.29 in the week ended on Friday, amid a global sell-off in equities due to the economic uncertainty triggered by spread of the Coronavirus.
In a single session on Friday the BSE sensex dropped 1448 to end in red at 38,297.29.
Stock markets across the globe suffered steep losses as fears over the impact of the Coronavirus continued to grip investors. The Nifty 50 index slipped 879.10 points or 7.27 pc to settle at 11,201.75.
The BSE Mid-Cap index declined 1,094.39 or 6.97 pc to settle at 14,600.02. The BSE Small-Cap index lost 1,037.51 points or 7.03 pc to settle at 13,709.01.
Some global markets have slipped into correction territory.
Key indices logged edged lower on all five trading days of the week.
On Monday, the BSE Sensex, lost 806.89 points or 1.96 pc at 40,363.23.
The Nifty 50 index fell 242.25 points or 2.01 pc at 11,838.60. The market tumbled
down as the spread of the Coronavirus outside China spoiled investor sentiment with infections and deaths rising in South Korea, Italy and the Middle East.
Global sentiment took a beating following reports that South Korea raised its Coronavirus alert to the "highest level" following a rapid spike in cases over the weekend. Italy's confirmed cases surged.
On Tuesday, the Sensex fell 82.03 points or 0.20 pc at 40,281.20. The Nifty 50 index fell 16.20 points or 0.14% at 11,813.20, though, the US President Donald Trump's two-day visit in India failed to boost investor sentiment.
On the third session of the week on Wednesday, the Sensex lost another 392.24 points or 0.97 pc at 39,888.96. The Nifty 50 index declined 119.40 points or 1.01 pc at 11,678.50 amid weak global cues. The spread of the Coronavirus has rattled investors across the globe who fear new outbreaks will push down global demand.
The market declined on Thursday, 27 February 2020. Trading was volatile due to monthly expiry of the February series of derivatives contracts. Stocks fell due to concerns that the global economy could slow down as China struggles to contain the Coronavirus outbreak. The S&P BSE Sensex declined 143.30 points or 0.36% at 39,745.66. The Nifty 50 index lost 45.20 points or 0.39 pc at 11,633.30.
Key benchmark indices nosedived on Friday mirroring a slump in global markets on fears that the Coronavirus outbreak could turn into a pandemic and derail growth. The barometer index, the S&P BSE Sensex, tumbled 1,448.37 points or 3.64 pc at 38,297.29. The Nifty 50 index lost 431.55 or 3.71 pc at 11,201.75.
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