All sectoral indices are trading in the red, down 5-9 percent each. Metals took the most beating while the auto index tanked 7 percent.
The Indian stock market witnessed a horror of a start on March 12 as global sell-off pushed Nifty50 below 10,000 levels for the first time since March 2018 while the S&P BSE Sensex broke below 34,000.
The World Health Organisation (WHO) on March 11 said coronavirus 'can be characterised as a pandemic'.
"WHO has been assessing this outbreak around the clock and we are deeply concerned both by the alarming levels of spread and the severity, and by the alarming levels of inaction," Tedros Adhanom Ghebreyesus, the Director-General of WHO said in a media briefing.
Sensex is down 2,561.32 points or 7.18 percent at 33136.08, and the Nifty cracked 768.10 points or 7.34 percent at 9690.30.
About 132 shares have advanced, 1920 shares declined, and 51 shares are unchanged.
India VIX surges to 6-year high, jumping 16.98 percent at 36.92 level."Markets will remain nervous till peak of coronavirus spread is behind us. Economic damage around the world is going to be much more severe than anticipated," Sajjid Chinoy of JPMorgan told CNBC-TV18.
According to him, the global growth may dip to -1 percent, while the India GDP will be impacted by at least 70-80 bps.
All sectoral indices are trading in the red, down 5-9 percent each. Metals took the most beating while the auto index tanked 7 percent.
Tata Motors cracked over 12 percent followed by Axis Bank, ONGC, Tata Steel and State Bank of India which shed 8-10 percent on March 12.
Over 381 stocks hit lower circuit on BSE including names like Indiabulls Housing Finance, Interglobe Aviation, IRCTC, Corporation Bank, Avenue Supermarts, Havells India, Welspun Corp and Vakrangee among others.
871 stocks hit new 52-week low on BSE. The top names included Lemon Tree Hotels, SpiceJet, Motherson Sumi Systems, Adani Gas, Future Retail, PNB Housing Finance, Glenmark Pharma, Tata Motors, RBL Bank, HPCL, Bandhan Bank, Oil India, Vedanta, BHEL, SAIL, NALCO, Cummins India, Just Dial, Sun TV Network, Axis Bank, GAIL India,Tata Steel, PNB, Hindalco Industries, State Bank of India, Sun Pharma, ITC, Hero MotoCorp, Coal India and UltraTech Cement among others.
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