Yes Bank crisis, Coronavirus: Stock market in freefall
Due to Coronavirus and Yes Bank fiasco, on Monday also the Indian stock market started with a big decline. The Sensex opened with a fall of over 1000 points, while the Nifty also recorded a fall of about 800 points.
Market under pressure
The Sensex was trading 1169.74 points down at 36,406.88 at 9:30 am, while the Nifty fell 332.40 points to trade at 10,657.05. On the contrary, Yes Bank shares opened strongly and jumped 20 per cent. Currently trading at a 12 percent jump.
Big drop in crude price
The dispute between the OPEC countries and Russia over oil prices has led to a steep 30 per cent drop in crude. Brent has slipped under $ 36. Mid and smallcap stocks are also seen selling heavily due to the fall in the Indian stock market. Oil-gas stocks are also seeing weakness today. The BSE oil and gas index is trading with a weakness of 2.85 per cent.
Corona also wreaked havoc on the market
Earlier on Friday, a big fall was also recorded. Yes Bank shares had reached about 6 rupees. However, after that the stock had seen a boom, and reached 19.
Significantly, the outbreak of Corona and the crisis of Yes Bank has broken into havoc on the stock market. At the end of trading in the stock market on Friday, the Sensex lost 894 points and closed at 37,576. Similarly, the National Stock Exchange (NSE) Nifty lost 327 points to open at 10,942.65 and finally ended with a loss of 289.45 points at 10,979.55. Yes Bank closed at 16.55, down 55 per cent at the end of business.
