Sensex plummets over 3,000 points, Nifty slips below 9,000-mark to open at 3-year low amid coronavirus scare, global sell-off

Equity benchmark Sensex plummeted over 3,000 points and opened at 29,687.52 on Friday

Sensex plummets over 3,000 points, Nifty slips below 9,000-mark to open at 3-year low amid coronavirus scare, global sell-off
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Sensex plummets over 3,000 points, Nifty slips below 9,000-mark to open at 3-year low amid coronavirus scare, global sell-off

Equity benchmark Sensex plummeted over 3,000 points and opened at 29,687.52 on Friday amid the coronavirus outbreak. The border Nifty also fell around 729.95 points and opened at 8,860.20 on Friday as global markets continued to reel under the impact of the coronavirus pandemic which has threatened the global growth.

The Indian equity benchmarks suffered their biggest ever one-day plunge on Thursday to crash into bear territory. The sensex closed at 2,919.26 points or 8.18 per cent lower at 32,778.14 while the Nifty slumped 868.25 points to close at 9,590.15.  

"Recession risk is rising and the markets do not seem to be pricing that in fully. January was the third month in a row that the three-month measure of UK GDP showed zero growth, the weakest such run since the middle of 2009. In Q1 CY20, on an annualised basis, global growth could be deeply negative - more like (minus) 1 per cent," he added.