Sensex and Nifty plunge as markets open at a 3-year low, trading halted for 45 minutes

Amidst increasing panic due to soaring number of cases of Coronavirus in country, markets are set for ar day of mayhem after  indices opened at a 3-year low. Sensex tanked 2,548.94 pts to 30,229.20 in opening session while Nifty plunged 729.95 pts to below 9000, first time since 2017.

Read: Coronavirus Hits Indian Stock Markets: Sensex Loses 1941 Pts; Most In One Day For 10 Years

Following blood bath at Dalal Street with markets hitting lower circuit limit, trading has been halted for 45 minutes and is set to resume after 10 am. pre-auction call will be resumed from 10.05 am onwards and rmal trading is said to begin from 10.20 am. 

Sensex hits 10-year low amid Coronavirus outbreak

On Monday, March 9, domestic stock markets fell by more than 6%.  BSE Sensex index plummeted as much as 2,366.26 points to hit 35,210.36 during session and NSE Nifty index slumped to as low as 10,327.05, down 662.4 points from previous close.

Read: Stock Markets sedive Amid Coronavirus; Sensex Sheds 2400 Points; Nifty Below 9800

Since outbreak of Coronavirus in Chinese province of Wuhan, global markets have been severely hit with standstill in trade.  Analysts have stated that re is heightened volatility in global markets amid concerns over rapidly-spreading coronavirus and sinking crude prices with m intending to sell-off. 

As per latest figures, at least 74 confirmed cases of COVID19 have been reported pan-India.  Several core sectors like led by financial, metal and energy stocks have been hit particularly - Reliance Industries shares have slumped by 11% - its worst single-day fall in at least 10 years.

Read: Sensex Crashes 2,919 Points As Corona Contagion Triggers Global Rout; Investors Lose Rs 11 Lakh Cr

fear of virus has disrupted business supply chains globally. Last week Moody’s estimated that coronavirus has increased risk of a global recession as advanced countries United States, Japan, Germany, Italy, France, Britain, and Korea battle virus. First detected in Wuhan in December 2019, COVID-19- vel Coronavirus has affected nearly 118 countries in world. Presently, re are over 1,24,518 confirmed cases of COVID-19 which has led to death of atleast 4,607 people. 

Read: 'Markets Overreacting To News Flows On Coronavirus': Says Expert As Sensex sedives