After the worst intraday crash in the history of the Indian stock market, several analysts said the bearish trend is likely to continue, while investors looked drained of confidence to nibble even at the blue chips at attractive prices.
The 2,919-point, or 8.18 percent, tumble in the Sensex wiped out around Rs 11.30 lakh crore in equity investors' wealth. And after an 868-point drop, Nifty was perilously poised at its key support at 9,500, below which it may plumb a bottom anywhere between 8,600 and 8,100.
RBI announces $2 billion money shot:
The Reserve Bank of India on Thursday made its first decisive move to counter the coronavirus-triggered market volatility by opening a US dollar–Indian Rupee swap window of $2 billion.
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