AGENCIES, Mumbai: The mood was sombre again at the country’s financial hub on Monday morning amid the news of lockdown across major cities in India. In fact, it was so bad that trading in the domestic stock markets was paused for good 45 minutes after benchmark indices plunged 10 per cent to trigger near panic among investors.
The S&P BSE Sensex index froze at 27,608.80, down 2,307.16 points from the previous close and the broader NSE Nifty 50 benchmark was stuck down 842.45 points at 7,903.00.
Not helping the indices was the investor sentiments as they chose to off-load across sectors. Majority of the transactions took place in the banking, automotive and metal stocks.
In a way it was expected to hurt the markets as the rapid spread of the coronavirus outbreak forced more countries to declare total lockdowns, hurting businesses .
Monday’s trading event was a second within a period of seven trading sessions, as world markets continued to suffer the worst sell-off since the 2008-09 global financial crisis.