Nifty enters bear market, slips below 10,000;Sensex cracks over 2,900 points
Published On: Thursday, March 12, 2020 | By: Team KnowMyStock
It was a ocean of red for Asian markets at the open. Indian markets opened also on a similar note. Declaration by WHO coronavirus as ‘Pandemic’triggered travel bans globally which sent shock waves across financial and commodity markets. US President Donald Trump's much-awaited speech at Oval Office could not allay investor concerns, as US stock futures tumbled 4 percent early on 12th March(Thursday), in addition to a near 6 percent slide in US stocks overnight, setting up the stage for a terrifying start for domestic indices. In the closing trades, the BSE Sensex cracked 2,919 points i.e. 8.1 percent, to 32,778.14. Nifty50 entered in to bear market, falling over 20 percent from the recent high.
Brent crude was trading down $1.03, or 2.9 per cent, at $$34.76 a barrel. The sentiment was also hit after the US banned travel from Europe for 30 days.
Rupee fell 70 paise down at 74.22 against the US dollar after the global financial market meltdown signalled that the world is staring at a coronavirus-led economic recession.
Tags: Nifty Indian market WHO coronavirus
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