Mumbai: The carnage in the Indian stock markets continued on Saturday amid a rout on global equity markets over rising recession fears linked to the coronavirus pandemic.
Stock exchanges halt trading for 45 minutes as Sensex, Nifty hit lower circuit limits.
Trading in Nifty 50 stock index was halted early after it fell 10 per cent and hit a “circuit-breaker”, as investors continued to panic over the impact of the fast-spreading coronavirus outbreak on global growth.
The NSE Nifty50 hit its lower circuit at 8,624.05, down 966.10 points or 10.07 per cent. The BSE Sensex also hit its 10 per cent lower circuit limit at 29,687.52 after falling 3,090.62 points, or 9.43 per cent.
On the global front, Asia’s stock markets crashed on Friday as panic gripping world financial markets deepened, and even haven assets such as gold and bonds were ditched to cover losses in the wipeout. In the overnight trade, Wall Street tanked on Thursday, ending the longest-ever US bull market after new travel restrictions to curb the coronavirus outbreak spooked investors and rattled world markets.
World Health Organisation (WHO) on Thursday declared Coronavirus (Covid-19) pandemic, denting the investor sentiment further.