Sensex hits 38-month low, tanks 1,800 points, Nifty below 8000

MUMBAI: The coronavirus-led sell-off in Indian equity markets continued on Thursday with the Sensex plunging to 38-month low levels and the Nifty breaching the level of 7,900 for the first time since December 27, 2016.

The S&P BSE Sensex fell 1,870 points, or 6.49 per cent, to 26,990 levels and the Nifty50 index hovered around 7,950 levels, down 512 points, or 6.05 per cent.

Among individual stocks, Bajaj Finance plunged 13 per cent while Kotak Mahindra Bank and IndusInd Bank were both down over 10 per cent each. The HDFC twins were also both down 7 per cent.

Nifty Private Bank index was the biggest loser among sectoral indices, down over 8 per cent, while Nifty Financial Service and Nifty Bank indexes slipped was down7 per cent each. Nifty Bank index, meanwhile, slid to a fresh 3-year low level after falling over 6 per cent.

In the broader market, the S&P BSE MidCap index slid 698 points, or 6.29 per cent, and the S&P BSE SmallCap index dipped 707 points, or 6.95 percent.

Volatility index, India VIX, jumped to a 12-year high and breached 70-mark.

 

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