Mumbai, Mar 12: In what appears to be the worst trading session in the Indian stock markets, the benchmark BSE Sensex crashed over 2900 points to end below the 33,000-mark.
The Sensex crashed 2,919.26 points to end at 32,778.14. So far it has touched an intra-day low of 32,530.05 points.
The Nifty50 on the National Stock Exchange also lost nearly 850 points so far. It plunged 868.25 points to 9,590.15.
The plunge was in line with the global markets as all Asian indices also traded in the red after the World Health Organization (WHO) declared coronavirus a global pandemic following which the Dow Jones Industrial Average also slumped significantly on Wednesday.
The bear run in both the global and domestic markets has continued off late on concerns of the coronavirus outbreak severely impacting the global economy. It has also raised calls for government intervention and support.
Central banks in several countries, including the US Federal Reserve have announced emergency rate cuts to boost sentiments. However, the concerns have only deepened in the past few days as the number of COVID-19 cases across the world has increased.
Further, following the rout in the global markets oil prices also fell on Thursday with the Brent crude trading around $34 per barrel.
The Indian rupee also felt the pressure and touched a 17-month low of 74.34 per dollar in its initial trade.
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