It was grim day for the markets as the Sensex plummeted 1600 points to 34,024 in the opening session; Nifty tanks 500 points to 9,957. Domestic stock markets started Thursday’s session sharply lower amid a selloff in global markets after US President Donald Trump announced a temporary travel ban from Europe in order to fight the spread of the coronavirus pandemic.
The S&P BSE Sensex plunged as much as 1,821.27 points to hit 33,876.13 in the first few minutes of trade, and the broader NSE Nifty benchmark slid to 9,916.55, down 541.85 points from the previous close. Equities around the globe plunged after the US President’s announcement – suspending all travel from Europe except the UK for 30 days starting Friday – stunned investors, threatening more disruptions to businesses and the world economy.
The WHO also declared the coronavirus to be a pandemic steeply affecting market sentiment.