Market mayhem continues; Sensex falls over 1,000 points as coronavirus fears grow

Equity benchmark indices remained in free fall for the sixth session in a row on Friday following a sustained global sell-off on coronavirus fears.

The stock market crashed in the opening trade, with the Sensex cracking below the 39,000 points mark, down with 1,120 points and the Nifty was trading lower by 329 points at 11,3030.

All stocks on Sensex and Nifty were trading in the red, across the board selling was witnessed with even bluechip stocks like Reliance IndustriesInfosys, HDFC Bank, ICICI Bank and TCS being hammered.

The Nifty Metal stocks were the worst impacted with Tata Steel and JSW Steel, both falling more than 3%.

In the broader market, the S&P BSE MidCap index slid 426 points or 2.83% and the S&P BSE SmallCap index was down 408 points, or 2.87%.

The Indian rupee opened 38 paise lower against the dollar at 71.93 per dollar against Thursday's close of 71.55/$.

Asian markets extended its yesterday’s losses amid fears over the spread of the coronavirus globally drove investors to safety. The Japanese Nikkei was trading down over 750 points as collateral selling saw across the board sell-off in stocks. The other casualty has been the South Korean Kospi index, which has been at the epicentre of the virus outside of China.

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