On Friday morning, the domestic investors US Dow Jones set in overnight trade set stage for worst weekly fall for the global market since 2008. Nearly Rs 4 lakh crore of investor wealth with the total market wiped within 5 minutes, the capitalization of BSE falling below Rs 150 lakh crore mark as investor fast-spreading virus will soon be listed as a pandemic, which would have a far-reaching impact on the world economy.
At 9.50 am, the BSE Sensex was trading 1,145.29 points or 2.88 per cent lower at 38,600. NSE barometer Nifty fell 347.90 points or 2.99 per cent to 11,285.40. The BSE m-cap fell Rs 3.77 lakh crore to Rs 148 lakh crore. This is the sixth day of the consecutive slide for domestic stocks where investors lost Rs 10 lakh crore so far. India’s third-quarter GDP data is due later in the day.  All the Nifty 50 stock were in red Tech Mahindra (down 5.60 per cent), Tata Motors (down 5.13 per cent), YES Bank (5.03 per cent), JSW Steel (4.56 per cent) and Vedanta (4.44 per cent) have the worst performance. The BSE Metal index plunged 6.14 per cent, followed by BSE Basic Materials (4.29 per cent) and BSE Realty index 4.81 per cent. The defensive BSE FMCG index, the least affected index, fell 2.32 per cent. Recently Sensex had dived 879 points on February 25. Meanwhile, on April 14, 2019, the index slumped 800 points while on April 12, 2019, the index declined 799 points for the day. Also, the index plunged 832 points on October 10 2018.
Read EquityPandit’s Nifty Outlook for the Week