Covid triggers worst market crash in Dalal Street’s history

Mumbai, March 23

The Indian stock market suffered worst-ever single-day crash on Monday, with the benchmark indices plunging as much as 13.15%, as panicked investors remained in selloff mode amid lockdowns in several states in the country due to mounting coronavirus cases.

The Sensex plunged 3,935 points or 13. 15% to close at 25,981.24 while the Nifty cracked 1,135.20 points or 12.98% to settle at 7,610.25.

On the currency front, the Indian rupee plunged below the 76-level (intra-day) for the first time.

In the very first hour of trade on Monday, trading on the BSE and the NSE had to be halted after the benchmark indices – Sensex and Nifty – hit the 10% lower circuit breaker.

As trading resumed after a 45-minute freeze, losses widened on bourses due to unabated selloff across sectors.

Global stocks too roiled after nations across the world announced lockdowns in an effort to mitigate the spread of Covid-19 pandemic, spiking fears of a mammoth global recession.

On the Sensex chart, Axis Bank was the top loser, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T. — PTI

Trading halted for 45 minutes

• In the very first hour of trade on Monday, trading on the BSE and the NSE had to be halted after both indices hit the 10% lower circuit breaker
• The Sensex plunged 3,935 points to close at 25,981.24 while the Nifty cracked 1,135.20 points to settle at 7,610.25
• As trading resumed after a 45-minute freeze, losses widened on bourses due to unabated selloff across sectors