Advertisement

Updated March 13th, 2020 at 16:44 IST

Govt, RBI closely monitoring markets: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Friday said the government and the Reserve Bank are closely monitoring the stock market, which is facing intense volatility amid mounting coronavirus fears.

Finance Minister Nirmala Sitharaman
| Image:self
Advertisement

Finance Minister Nirmala Sitharaman on Friday said the government and the Reserve Bank are closely monitoring the stock market, which is facing intense volatility amid mounting coronavirus fears.

Together with the RBI, the government is closely monitoring markets, she said on the situation arising out of a panic spread of coronavirus pandemic.

After being battered in the early session, the BSE Sensex spurted 1,325.34 points and the NSE Nifty rose 365.05 points to settle the day at 9,955.20.

READ | Govt Closely Monitoring Coronavirus Impact On Economy: Nirmala Sitharaman

Indian market saw its biggest intra-day selloff in early session, wiping nearly Rs 12 lakh crore off investor wealth in less than 20 minutes of opening trade.

As coronavirus-led recession fears triggered panic selling globally, both Sensex and Nifty plunged over 10 per cent in the opening session, hitting their lower circuit levels.

Stock exchanges halted trading for 45 minutes. Normal trading resumed at around 1030 hours. The last circuit freeze happened in January 2008. 

READ | 'Efficient Use Of Technology Saving India Rs 1 Lakh Crore,' Says FM Nirmala Sitharaman

READ | FM Nirmala Sitharaman Invokes United Western-IDBI Crisis, Attacks Congress Over Yes Bank

Advertisement

Published March 13th, 2020 at 16:44 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

former dsp shailendra singh revealed criminal activity of Mukhtar Ansari
2 minutes ago
TCS 'cash for jobs' scam
14 minutes ago
IBL Finance IPO
19 minutes ago
Congress Press Conference
19 minutes ago
Virat Kohli keeps a close watch on Gautam Gambhir
20 minutes ago
Good Friday
26 minutes ago
Life Insurance Corporation
26 minutes ago
Kerala Nirmal Lottery Sambad Friday Result
30 minutes ago
US Federal Reserve
32 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo