Sensex tanks 1,448 points on Friday on Coronavirus jitters; Nifty ends at 11,219
Equity market witnessed one of the steepest falls in the recent years on Friday as the fears of coronavirus turning into a pandemic triggered all-round sell-off at the bourses. Hopes that the epidemic that started in China would be over in a few months and economic activity would return to normal have been shattered, as new infections reported around the world now surpass those in China.
As a result, the S&P BSE Sensex nosedived 1,448 points or 3.64 per cent to end the session at 38,297. All 30 constituents ended in the red. Tech Mahindra (down around 9 per cent) took the biggest knock on the index. Other major contributors to the index were Reliance Industries (RIL), Infosys, HDFC, ICICI Bank, and TCS.
On the NSE, the 50-share index Nifty plunged 432 points or 3.7 per cent to end at 11,202.
Volatility index India VIX zoomed 29 per cent to 22.87 levels.
Sector wise, all the indices on the NSE ended deep in the red. Nifty IT index dropped over 5 per cent to 15,274 levels while Nifty Metal index cracked over 7 per cent to 2,233 levels.
Shares of Bandhan Bank slipped 7 per cent to Rs 370.60 on the BSE on Friday, thus erasing entire gain recorded since Tuesday after the Reserve Bank of India (RBI) lifted restrictions placed on the bank from opening new branches. The private sector lender’s stock was quoting close to its all-time low of Rs 369.15, touched on October 16, 2018. The bank issued shares at Rs 375 per share in its initial public offer (IPO) and debuted on the bourses on March 27, 2018.
Aviation stocks nosedived on February 28 in sync with the broader market sentiment, as concerns over rising cases of coronavirus wiped out the risk appetite of investors.
Lemon Tree Hotels share price gained 6.7 percent amid stock market carnage after the hospitality company opened its second international hotel in the Bhutanese capital Thimphu.
More than 300 BSE stocks hit 52-week low today including IndusInd Bank, ITC, Hero MotoCorp, Wipro, M&M, ONGC, L&T, Hindalco Industries, Vedanta etc.
Here are some picks from the week gone by.
