Mumbai, April 16: The Indian markets today opened in the red tracking weakness in the global peers. The benchmark Sensex opened 284 points lower at 30,095.51. Nifty slipped by 74 points to 8,851.25. However, the markets turned extremely volatile thereafter, over uncertainty prevailing in the market.  The Sensex was trading at 30,240, down 149 points. Nifty on the other hand, was at 8,886 at 10 am on Thursday.

The global markets were also in the red as investor sentiments remained fragile amid the start of a poor quarterly earnings season, indicating financial damage from the impact of coronavirus outbreak. Coronavirus Cases in India Rise to 12,380, Death Toll Due to COVID-19 Jumps to 414.

The investor sentiments have further deteriorated after PM Narendra Modi extended the nationwide lockdown till May 3 in view of the rising coronavirus cases.  India's COVID-19 tally jumped to 12, 380 on Thursday, the Union Ministry of Health and Family Welfare said. Of these, 10,477 are active cases while 1,488 individuals have been cured and discharged from the hospitals. The death toll has mounted to 414 while one person has migrated to another country.

The IMF on Tuesday slashed its FY21 growth projection for India to 1.9 percent from 5.8 percent projected in January, stating that the ‘Great Lockdown’ to combat the COVID-19 outbreak will throw the world economy into the worst recession since the Great Depression in the 1930s.

(The above story first appeared on LatestLY on Apr 16, 2020 10:08 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).