Trading has been suspended for 45 minutes after Sensex crashed over 3,000 points to 30,229.20 whereas Nifty was down by 960 to 8,860.20 in the opening session on Friday. For the third consecutive day, markets opened in losses amid a worldwide coronavirus scare and its impact on the global economy.
Trading in Sensex, NIFTY was stopped for 45 minutes due to lower circuit limit after the market fell over 10% in the initial trade. The market will pre-open at 10:05 am while BSE will resume trading at 10:20 am.
Stock markets worldwide are facing the impact of coronavirus as they continue to witness a slow start. On Thursday, US stocks market entered the bear zone as the major indices Dow Jones Industrial Average and S&P500 slumped over 7 per cent, following which trading in the indices stopped for 15 minutes.
The level-1 circuit breaker has been triggered in the US market for the second time in a week. Dow Jones is currently at 21,856.91, lower 1,696.31 points, 7.20 per cent from its previous close. S&P500 slumped to 2,549.05, lower by 192.33 points or 7.02 per cent. A bear market is a condition when a security price falls 20 per cent or more from its recent highs.
The World Health Organization called the new coronavirus outbreak a pandemic, issuing a grim warning that the global spread and severity of the illness was due to “alarming levels of inaction”. The slump continued in the global markets after a similar trend on Wednesday after the WHO declared coronavirus as a global pandemic.