Trading in Nifty has been halted for 45 minutes due to lower circuit limit after the market fell over 10% during initial trading
Two days after the World Health Organisation (WHO) declared the coronavirus a 'pandemic', Indian equity indices on Friday witnessed a meltdown with BSE Sensex plunging over 3,000 points while the broader Nifty also tanking 966.10 points. Following the early trade, there was a 45-minute halt, markets resumed trading at around 10:20 am.
However, Sensex recovered from the intraday loss of about 3,300 points and closed 1,300 points higher. On the other hand, Nifty had earlier fallen 10% for a few minutes but jumped back later, closing about 3% higher.
At around 2 PM, Sensex was at 34,247.42 points and Nifty gained 387.90 points, and is currently at 9,978.05.
After the markets resumed at 10.33 am, Sensex was trading at 31,963 down by 814 points while Nifty was down by 260 at 9,330 points. Before the halt, Sensex was at 29,687.52 points, and NIFTY at 8,624.05.
At 10.45 am, the Sensex was at 33,127.64 up by 349.50 points while Nifty was at 9,645.40 up by 55.25 points.
Trading in Nifty was halted for 45 minutes due to the lower circuit limit after the market fell over 10% during initial trading, PTI reported.
As the Coronavirus panic worsened, the rupee slipped 16 paise to 74.44 against the US dollar in early trade.
About 80 shares have advanced, 1121 shares declined, and 35 shares are unchanged.
Indian equity indices on Thursday took a massive hit with BSE Sensex plunging over 3,000 points while the broader Nifty falling below 9,600. The bloodbath on Dalal Street wiped off investor wealth worth over Rs 11.42 lakh crore on Thursday.
Speaking on the current market scenario in the morning, Prakash Pandey, MD & CEO at Plutus Advisors said, "This crash in the Indian stock market is mainly due to the rise in Coronavirus fears after WHO announcing it a pandemic. Overall Indian market trend is bearish and Nifty has come down below 10,000 levels which means it is not able to sustain its previous support of 10,140. Now, it has support at 9,800."
Asian markets too have been witnessing a carnage while US Daw Jones fell almost 5% in overnight trade after losing over 1400 points. The crash comes after US suspended all travel from Europe, except the United Kingdom, for 30 days as in wake of the coronavirus.
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