Corona crisis: Mayhem in equity markets as Sensex crashes by 1942 points

By: |
March 10, 2020 7:36 AM

With no signs of any relief in the spread of coronavirus, crude oil prices went into free fall plunging 30% from overnight levels to levels of $32 per barrel.

Coronavirus, Coronavirus India, coronavirus risk in India, chances of coronavirus spreading to India, study on coronavirus risk, Coronavirus latest updates, Coronavirus outbreak, n95 mask, wuhan university, sars, nipah virus, n95 respirator mask, kerala virus, karona, carona, Coronavirus symptoms, Coronavirus treatment, Coronavirus medicine, Coronavirus prevention, coronavirus treatment breakthrough, coronavirus treatment, coronavirus narendra modi statement, PM Modi on coronavirus, PM Modi holi coronavirus, coronavirus all you need to know, coronavirus india, corona updates, corona alert india, coronavirus prevention India, COVID-19, coronavirus impact on markets, coronavirus impact on economyThe rupee lost value against the dollar sinking to 74.14 at close.

It was mayhem in the equity markets on Monday with the Sensex crashing by a gut-wrenching 1942 points or 5% as skittish investors rushed for the exit increasingly apprehensive of a global recession. Close to Rs 7 lakh crore of investor wealth was wiped out during Monday’s session as foreign portfolio investors sold close to $900million worth of stocks, provisional data showed, though local institutions are understood to have been buyers. With markets across the globe in sell-off mode, Indian equities too have been battered; the loss since February 1 has been 12.5%.

With no signs of any relief in the spread of coronavirus, crude oil prices went into free fall plunging 30% from overnight levels to levels of $32 per barrel following Saudi Arabia’s decision to cut prices and raise output. Investors rushed to buy bonds, both at home and abroad; the yield on the US Treasury sank to 0.3137 while the yield on the local benchmark closed the session at 6.06%. The rupee lost value against the dollar sinking to 74.14 at close.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1MFs on buying spree for 2nd month in a row, infuse Rs 5,526 cr in equities in April
2TCS leads 8 of 10 most-valued firms to add Rs 81,250.83 cr in market valuation last week
3Earnings, COVID-19 updates, macro data to guide market sentiment: Analysts