Furore in the market due to Coronavirus: Sensex broken 1107 points, Nifty also rolled down 330 points

Indian stock market opened with a heavy fall on Friday. Sensex of the BSE broke 1107.90 points to open at the level of 38,637.76. At the same time, the NSE of NSE was also seen trading at a level of 11,303.10 with a fall of 330.20 points. The impact of the steep decline in the global market was also seen on the domestic stock. Talking about companies involved in Nifty50, Tech Mahindra saw a decline of 5.39 per cent, Tata Motors 4.65 per cent, Bajaj Finance 4.62 per cent, Tata Steel 4.47 per cent and JSW Steel shares fell 4.15 per cent.  

All the companies involved in the SENSEX were trading in red marks. All the sectoral indices of the NSE were also trading with a decline. The biggest decline was recorded in Nifty Metal, which was trading down by 3.69 percent. 

On Friday, the Asian stock market continued to decline due to Corona virus fear. Stock markets in New York and Europe also closed with a fall. News agency Reuters quoted Tomoaki Shishido, senior economist at Nomura Securities, as saying that the impact of the corono virus far exceeded the US-China trade war. Therefore, the Fed now sees no reason to adopt a ‘wait and see’ policy next month. 

While the MSCI All Country World Index fell by 3.3 per cent on Thursday, it fell further by 0.3 per cent on Friday. This week MSCI recorded a decline of 9.2 per cent, which is the biggest since the fall of 9.8 per cent in November 2008. 

Shares also declined on Wall Street. The S&P 500 lost 4.42 per cent, the biggest drop since August 2011. Talking about Asian markets, Japan’s Nikkei 225 fell by 3.28 percent on Friday. On the other hand, Topix index saw a decline of 3.03%. SGX Nifty was trading down by 176 points. The Nifty futures on the Singapore Exchange were trading at around 11432 levels.