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Rs 7 lakh crore gone in 15 mins! Sensex plummets 2,100 points, slips below 27,000

In the 30-share pack Sensex, all constituents traded in the red.

, ETMarkets.com|
Last Updated: Mar 19, 2020, 10.13 AM IST
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IndusInd Bank and HCL Tech plunged more than 10 per cent.
There is no end in sight to the selloff in the domestic equity market as worries over a massive disruption to the businesses due to fast spreading coronavirus pandemic has forced investors to preserve capital. Sharp fall in the US and Asian markets added to the weak sentiment already prevailing on D-Street.

India has reported 169 cases of Covid-19 till now, as per government figures. A case of community transmission in Tamil Nadu indicated the numbers could go much higher.

Benchmark indices plunged to their multi-year lows. BSE flagship Sensex was down 2,155 points to 26,714 while NSE benchmark Nifty fell 487 points to 7,981. Broader market indices followed their headline peers and sank over 7 per cent. Rs 7.22 lakh crore of investor wealth was wiped off in first 15 mins of trading.

In the 30-share pack Sensex, all constituents traded in the red. Kotak Mahindra Bank was the biggest casualty of relentless selling as it plunged 13.63 per cent to Rs 1,013 while Bajaj Finance dived nearly 12 per cent.

IndusInd Bank and HCL Tech were others who plunged more than 10 per cent.

YES Bank, which had been on a dream run for the last four sessions, dived 20 per cent in morning trade as investors preferred to book profits.

Globally, U.S. stock futures were a hair's breadth from hitting session down limits. The growth-sensitive Australian dollar was crushed 4 per cent to a more than 17-year low.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 5 per cent to a four-year low, with Korea and Hong Kong leading losses.

The Nikkei fell nearly 1 per cent, the ASX 200 nearly 3 per cent, while the Kospi lost 8 per cent and the Hang Seng 5 per cent.
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
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