New Delhi: Fears of the deadly coronavirus on Friday led to the benchmark equity indices on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) witnessing a massive fall, with both BSE’s Sensex and NSE’s Nifty 50 index crashing by over 3.5% each. Also Read - Sensex Plunges Over 1,150 Points Over Coronavirus Fears, Rs 5 Lakh Crore Investors' Wealth Wiped Off
The S&P BSE Sensex closed at 1,448.37 points (down 3.64%) to settle at 38,297.29. The broader Nifty 50 index, meanwhile, witnessed a fall of 431.55 points (down 3.71%), finishing at 11,201.75 points. Earlier in the day, while Sensex slipped by as much as 1,525.69 points (3.84%) to 38,219.97, Nifty 50, on the other hand, 458.25 points (3.94%) to 11,175.05 during the intraday trade on Friday. Also Read - Sensex Tanks 807 Points Amidst Massive Sell-offs as Coronavirus Alarm Spreads
Nifty Metal index emerged as the biggest loser of the day, crashing by 7.34%. It was followed by the Nifty IT index which fell 5.27% and Nifty PSU Bank index which slipped 4.97%. The severe fall in markets led to the domestic investor wealth plummeting by nearly Rs five lakh crore on Friday while over 1,700 BSE-listed stocks, mostly from the mid-cap and small-cap space, too, witnessed heavy selloff on the day. Also Read - Sensex Snaps 4-session Slide, Soars 429 Points; Nifty Shoots up 133.40 Points
The development came even as the World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus expressed apprehension that the virus could become a pandemic with the outbreak spreading to major developed economies like Germany and France. In the past 24 hours, 10 countries have reported their first case of coronavirus.
Nigeria, which is the biggest economy in the African continent, is among the countries to have witnessed their first coronavirus case in the last 24 hours.