Black Friday on D-streets as Nifty hits lower circuit of 10% within 8 minutes of trading. The trading has been halted for 45 minutes. The crash was led by major Volatility in global markets that continued to panic due to the Coronavirus.
Indian markets hit the lower circuit for the first time in 12 years.
At 9:30 am Friday, the BSE Sensex plunged
3,090.62 points or 9.43 per cent to 29,687.52, while the NSE Nifty was down
966.10 points or 10.7 per cent lower at 8,624.05.
equities worldwide dropped drastically on Thursday after the World Health Organization (WHO) declared the new coronavirus a pandemic. On Thursday's trade, benchmark indices closed nearly 8 per cent lower. While 30-share index BSE Sensex has hit a fresh 52-week low at 32,493.10. The 50-share index NSE Nifty has dropped to the Intraday low of 9,508.
Equities in other Asian markets went into a free-fall and it has witnessed the worst week since the 2008 global financial crisis.
The spread of the virus has disrupted businesses globally and impacted financial markets badly. Recession fears have increased after WHO declared coronavirus a pandemic.
Investors are in fear of losing badly. In such Market tension, it is advised that investors should stay away from the markets for a while. Do not panic and take actions outs of fear, let the volatility settle down.
Updates of the market action on BSE and NSE today:
Closing bell- Sensex stages biggest-ever rebound of 4,715 points, ends 1,325 higher; Nifty reclaims 10,000
YES Bank gains almost 10%
Sensex and Nifty recovered after major free-fall on Friday
Finance Minister to address press conference at 3 pm today (Friday)
Top loser in Sensex on Friday's session- Sun Pharma, HDFC, Tata Steel, Titan, Ultra Tech Cement, NTPC
Top gainers in Sensex- Nestle India, IndusInd Bank, Tech Mahindra, Asian Paints, TCS, Bajaj Auto. Overall 17 out of 30 stocks were trading in green.
Nikkei recovers over 7% from day's low
Friday trade halted for an hour
Pre-open trade now at 10.05 am; market trading to resume from 10.20 am onwards
Rupee hits record low against the US dollar
Markets across Asia collapse: Nikkei down 8.5%, Hang Seng 6%, Shanghai 3.3%, Kospi 8%, Singapore 5%
Asian markets plunge up to 10%
Worst week for Oil since 1991
Gold prices set for biggest weekly loss in 7 years
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The Covid-19 infection has now reached almost 122 countries. It caused around 4,630 deaths and the number of infected cases rose to 126,136 on Friday. Of this, 68,219 have been recovered globally.
The reported number of infected cases in India has risen to 73, out of which 56 cases are Indian nationals, while 17 are foreigners.
India has reported its first death due to coronavirus on Thursday.