Corona's havoc created a furore in the stock markets around the world. Now its effect is visible on the Indian stock market. The Sensex fell more than 2400 points as soon as the market opened, then the Nifty went down by about 750 points. The Sensex has now fallen by 3,000 points.
On Thursday, there was a scene of destruction in the stock market. A steep fall of 3000 points or 8 per cent in the Sensex hit investors hard and the Nifty also fell more than 8 per cent and fell below 9600. A huge fall in the market created a furore among the investors and in this fall more than 9 lakh crore rupees of investors were drowned. Due to this outcry on Dalal Street, the stock market recorded the biggest decline in history. The Nifty hit a 32-month low and Thursday proved to be a black day for the market.
How the market closed on Thursday
During Thursday's trade, the 30-share BSE Sensex ended at 9.26 points. The 50-share index Nifty of the NSE closed at 9590.15, down 868.25 points, or 8.03 per cent. All the Sensex-Nifty stocks have closed at red mark and all the indices have also closed at 52-week low. Bank Nifty had also slipped more than 8 percent. Bank Nifty has closed at a two-year low when the business ends. During today's business, the Nifty had come down by 20 percent from the record high.
Heavy reduction in market cap
Investors lost Rs 9,15,113 crore in the devastation at Dalal Street and the total market capitalization of BSE declined to Rs 127 lakh crore from Rs 137 lakh crore at the close of business on Wednesday.
Why did the market fall so drastically
According to experts, after the World Health Organization declared the corona virus or Covid-19 as an epidemic, there is a decline in the stock markets across the world due to the fear of global economic slowdown and also has a very negative impact on the domestic market.
