Indian markets which were riding high on corporate tax cuts and Q3 earnings have caught infection from coronavirus which has led to investors losing Rs 33.08 lakh crore since February 12 this year. Sensex, which closed at 41,565 on February 12 (BSE market cap of Rs 159.66 lakh crore) this year fell to 33,249 (BSE market cap of Rs 126.58 lakh crore) today declining over 8,000 points in one month. Nifty which stood at 12,201 on February 12 has lost 2,433 points to 9,756 today.
Fears of coronavirus, which originated in China, hit the global economy and have percolated into the Indian market. Globally, US markets too have been hit by the contagion.
Dow Jones has fallen from 29,551 on February 12 to 23,533, losing 6,018 points as economy stares at recession. Asian and other markets have fallen in line with US market as virus threatens to stall global growth. At home, all market sectors have fallen like a pack of cards as contagion has led to temporary ban on travel across the world.
There have been total 1,21,654 of positive coronavirus cases across the globe with over 4,373 people losing their lives to the disease. In India, total confirmed cases have risen to 60, the health ministry said.
The rising number of coronavirus cases has led the Sensex to log its biggest intra day loss today. Sensex lost 2,707 points to 32,999 in intra day trade today with Nifty falling to 9,700, declining 758 points.