Coronavirus impact: Sensex sheds nearly 1500 points
On Friday, the Indian stock market closed with a major decline due to the spread of coronavirus leading to sell off in markets around the world. On the last trading day of the week i.e. Friday, after the day’s trading, the stock market witnessed a sharp decline. The Bombay Stock Exchange’s flagship index Sensex closed at a level of 38,297.29 after losing 1,448.37 points, or 3.64 per cent. At the same time, the National Stock Exchange’s Nifty has closed at 11,219.20, after losing 414.10 points i.e. 3.56 per cent. The market is registering a decline for six consecutive days. The Nifty has had a major weekly decline of 11 years. All-round selling in the market caused investors to lose Rs 5.4 lakh crore.
Sensex’s second biggest drop in a day
This is the second biggest fall of the Sensex. Earlier on 24 August 2015, the Sensex saw a fall of 1624 points. This led to a reduction of about Rs 11.5 lakh crore in BSE’s MCAP.
Market fell due to Coronavirus’s havoc
The global market continues to decline due to the spread of coronavirus outside China. Because of this, investors are withdrawing money from the market. The market is registering a decline for six consecutive days. Investors have lost about Rs 10 lakh crore in these six days.
Market decline even after forecasting growth
Even in the third quarter (October-December) of the current financial year, the growth rate may be stable at 4.5 percent. SBI economists have made this estimate before the government figures are released. GDP growth rate data will be released on Friday. Due to this, the domestic stock market is witnessing a decline.
Market pressure due to selling of FPI
Along with this, there is pressure on the market as foreign portfolio investors (FPIs) continue to sell. As per preliminary data, FPI sold a net worth of Rs 3,127.36 crore on Thursday.
Such was the situation of top shares
Talking about the big stocks, today only IOC and Maruti shares closed in the green mark. On the other hand, Sun Pharma, Britannia, Titan, Grasim, Axis Bank, Infratel, Asian Peaints, Kotak Mahindra Bank, Bajaj Finserv, Wipro, JSW Steel, ONGC, G Limited, UPL, HCL Tech, SBI, IndusInd Bank and Hero MotoCorp Closed in the red.
Sectoral index tracking
If we look at the sectoral index, then all the sectors closed on the red mark. These include pharma, FMCG, private banks, auto, media, media, IT, realty, metal and PSU banks.
