Taking its cue from a global rout, the Indian benchmark indices nosedived in the opening session on Thursday. Globally, stock markets tumbl...
Taking its cue from a global rout, the Indian benchmark indices nosedived in the opening session on Thursday. Globally, stock markets tumbled after United States President Donald Trump announced a 30-day ban on travel from Europe and the World Health Organization officially declared coronavirus a pandemic.
At 9.35 am, the Sensex was down 1,656.48 points at 34,051.32 and the Nifty tumbled 519 points to 9,939.40. This is the first time since March 2018 that the Nifty has plummeted below the 10,000-mark. All sectoral indices on the NSE were trading in negative with losses led by Nifty metal, media, information technology and bank. The Nifty Bank index fell to a 17-month low and dropped below 25,000 points.
Tokyo’s benchmark Nikkei was down 5.42% to 18,364.18. Australia’s ASX was also down 5.4% while Hong Kong tumbled 3%.
“Trump travel ban: sell, sell, sell is being heard across dealing rooms in Asia,” said Stephen Innes, global chief markets strategist at AxiCorp, according to AFP. “Travel restrictions equal slower global economic activity, so if you need any more coaxing to sell... after a massively negative signal from overnight trading in US markets, it just fell in your lap.”
The Indian rupee on Thursday hit a 17-month low as it fell past the 74-mark at...
