MUMBAI : Covid-19 is sending chills through world markets, nosediving it for the second day straight after a steady decline over two weeks. Dow Jones and UK stock exchange had their sharpest fall since 2008. Our own benchmark indices on Thursday plummeted in early trade with impact from World health Organisation(WHO) annoucement that declared Coronavirus as a pandemic. Sensex has plummeted over 2,500 points while Nifty is down over 700 points, breaching 10,000 mark and now hovering around 9,700.
Following WHO announcement, India suspended all e-visas and tourist visas till April 15. This took heavy toll on airline companies including Spicejet which plunged almost 19 percent. Besides, FIIs(Foreign Insitutional Investors) are pulling out their funds and domestic investors are spooked by the panicky scenario. Today’s fall has eroded investor wealth worth Rs 8,56,689.62 crore according to data at 10.30 am.
Globally, over 119,400 people have been diagnosed with the virus of whom, 4,300 succumbed to the infection. Though the fall is unprecedented in terms of length and magnitude, analysts expect the carnage to continue for some more time.
