Sensex Trims Losses, Ends 588 Points Down, Nifty at 8,263 As Investors Remain Skeptical Amid COVID-19 Fears
The situation across the globe is worrisome as Italy reported the largest single-day death toll from coronavirus since the outbreak began. The global markets also closed on a negative note. US stocks erased the prior session's gains and closed lower.
Mumbai, March 19: The Sensex after plummeting around 2,000 points in the opening trades trimmed majority of their losses and ended around 600 points down on Thursday. The Sensex closed 581 points at 28,288. Nifty, on the other hand, ended at 8,263.45, down 205 points. The Indian markets opened deep in the red on the back of the increasing fear around coronavirus. The negative global markets also rubbed on their effect on the Indian benchmark indices. Sensex today touched a 37-month low and went below 27,000 during the initial few minutes of the trade.
There is immense uncertainty in the market as the COVID-19 fear envelops everywhere. According to the latest numbers shared by the Ministry of Health India, the total number of confirmed coronavirus cases in India rose to 166 - comprising 141 Indian nationals and 25 foreign nationals. India has reported three deaths till now, the latest being a 63-year-old man who died at Kasturba Hospital in Mumbai. S&P Lowers India's Growth Forecast to 5.2% For 2020, Says 'Global Economy is Entering Recession Amid COVID-19 Pandemic'.
The situation across the globe is worrisome as Italy reported the largest single-day death toll from coronavirus since the outbreak began. The global markets also closed on a negative note. US stocks erased the prior session's gains and closed lower. On Tuesday, the markets staged a rebound, but on Wednesday, the Dow closed down 6.3 percent, or 1,338 points.
(The above story first appeared on LatestLY on Mar 19, 2020 04:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).