News Karnataka
Saturday, March 02 2024

Market trims losses as trade resumes, Sensex down 480 points

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Market trims losses as trade resumes Sensex down 480 points mainMumbai: As the stock market resumed trade after a 45-minute halt, indices trimmed losses and the BSE Sensex was trading lower by around 480 points.

At 10.41 a.m., the Sensex was trading at 32,291.10, lower by 487.04 points or 1.49 per cent from its previous close of 32,778.14.

So far it has touched an intra-day low of 29,388.97 points.

The Nifty50 on the National Stock Exchange was trading at 9,365.40, lower by 224.75 points or 2.34 per cent

Minutes into the trade on Friday, both the indices touched their 10 per cent lower circuit on the persistent coronavirus fears and trade in both BSE and NSE was halted for 45 minutes.

Sensex fell over 3,000 points to trade at below the 30,000 mark. It was at 29,687.52, lower by 3,090.62 points or 9.43 per cent when trade halted.

Nifty50 touched the lower circuit of 10 per cent and was at 8,624.05 points much below the psychological mark of 9,000 points, when trade was shut temporarily.

The domestic exchanges are in line with the Asian markets which are also trading in the red. On Thursday, the US indices, Dow Jones Industrial Average and S&P500 hit the lower circuit of 7 per cent.

The Indian stock market entered the bear zone on Thursday as the indices fell over 22 per cent from their all-time highs.

The concerns of the coronavirus outbreak severely impairing the global economy have only risen after the World Health Organization on Wednesday declared the disease as a global pandemic.

Indian recorded its first death due to the infection on Thursday evening.

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