Sensex sheds 2,919 points
Sensex sheds 2,919 points

Market mayhem: Sensex crashes 2,919 points

Agency News

The coronavirus scare continues to haunt the Dalal Street as Friday also witnessed huge losses. The benchmark index of the Bombay Stock Exchange (BSE), Sensex has shed 2,919.26 points - or 8.18 per cent –in the early hours of the trade to reach 32,778.14.

The broader benchmark index of the National Stock Exchange(NSE), Nifty dropped 868.25 points - or 8.3 per cent - to settle at 9,590.15.

The investor sentiment - which has been shaky in the past few weeks in the backdrop of the fast-spreading coronavirus outbreak - took a further beating after the World Health Organisation declared the deadly virus as a pandemic. The Nifty 50 crashed as much as 9 per cent or 950 points to 9,508 during the session - its lowest level recorded since June 2017 and the S&P BSE Sensex dropped as much as 8.97 per cent or 3,204 points to 32,493 - its lowest in 23 months.

All the 11 sectors ended lower led by the Nifty PSU Bank index's over 13 per cent slump. Other sectoral indices of Realty, Pharma, Metal, Media, IT, Financial Services and Auto sector gauges also dropped between 8-10 per cent each.

Selloff was broad-based as mid- and small-cap shares also witnessed a massive fall. Kotak Mahindra loses by 20 percent to Rs.1172, BPCL down by 16.70 percent to Rs.286.80, HCT Tech down by 15.89 percent to Rs.414.85, GAIL down by 15.32 to Rs.67.70 and Tech Mahindra down by 15.06 percent to Rs.552.

Gainers were almost absent in a market which goes through a deep red.