Domestic stock markets on Monday, March 23, halted trading for 45 minutes after Indian equity indices plunged over 10 per cent -- the lower circuit breaker -- as investors remain concerned about the coronavirus pandemic.
The benchmark indices traded deep in the red with the S&P BSE Sensex plunging over 2,111 points. At around 9.20 am, Sensex was trading at 27,804.58 points, lower by 2,111.38 points or 7.06 per cent from the previous close of 29,915.96.
The NSE Nifty 50 benchmark was at 8,122.40, lower by 623.05 points or 7.12 per cent from its previous close.
All sectoral indices traded in the red, led by banks, auto, metal stocks, and financial services as a lockdown across 75 districts in India in the fight against COVID-19 have triggered more panic among investors, hurting businesses.
The market movement comes a day after central and state governments announced wide-ranging measures on Sunday including lockdowns and suspension of some public transport to contain the spread of the novel coronavirus outbreak.
With seven deaths, India had registered 341 cases of coronavirus. The deadly virus has claimed over 14,000 lives worldwide with around 300,000 infections, increasing fears that Covid-19 could bring world economies to a grinding halt, ravaging markets globally.
(With agency inputs)