Amidst the ongoing Coronavirus scare and rising cases in the country, markets witnessed another day of mayhem as Sensex tanked 1311.87 points dropping below 30,000 to 29,267.22. The Nifty followed suit slumping by 407 points to 8,559 witnessing a fall of nearly 4.5 percent. With this, market indices hit a three-year-low, with Sensex lowest since March 2017, and Nifty since February 2017.
IndusInd Bank was the top loser in the Sensex pack, tanking over 32 per cent. Axis Bank, Bajaj Finance, Kotak Bank, SBI and Titan were also trading significantly lower.
Since the outbreak of the Coronavirus in the Chinese province of Wuhan, global markets have been severely hit with the standstill in trade. Analysts have stated that there is heightened volatility in global markets amid concerns over the rapidly-spreading coronavirus and sinking crude prices with them intending to sell-off. As per the latest figures, India has till now recorded around 148 positive cases of the Novel Coronavirus and reported three deaths to date.