Business

Coronavirus havoc, biggest fall in stock markets, investors lost Rs 11 lakh crore

Coronavirus infection has caused global market distress and its impact is also visible on Indian stock markets. The day after it was declared a global pandemic, the domestic stock markets witnessed their biggest one-day fall on Thursday. The 30-share of BSE index had at one time dived to 3,204.30 points.

This is the biggest single-day decline in the history of domestic stock markets on the basis of numbers. Interestingly, the domestic stock markets set a new record for the biggest one-day decline on the basis of numbers on Monday this week. The domestic stock markets have fallen by more than 20 percent compared to recent highs so far. Both the Sensex and the Nifty touched their all-time high on 14 January this year. On Thursday, both indices closed lower than two and a half years. Due to this fall in the stock markets, investors lost Rs 11,27,160.65 crore in a single day on BSE. The combined market capitalization of BSE companies came to Rs 1,25,86,398.07 crore.

The declaration of corona virus infection as epidemic by the World Health Organization (WHO) had a very bad effect on the global stock markets. Meanwhile, US President Donald Trump has banned the entry of passengers from Europe, including Britain, for 30 days. This has a negative impact on the financial and commodity markets. Analysts say that countries are banning the entry of outsiders for the prevention of Corona infection. This has put the risk of global economic recession deep.

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