Sensex Sinks 1,200 Points As Coronavirus Fears Grip Markets

The Sensex cracked a huge 1,200 points in trade, while the Nifty was trading day lower by a mammoth 352 points, as fears over the Coronavirus continued to grip markets.

Overnight, the US Dow Jones Industrial Average plunged a whopping 4.42 per cent or 1,100 points. The Dow Jones has now declined almost 10 per cent from record highs.

In Asia, the Japanese Nikkei was the worst impacted falling as much as 3.2 per cent. Mainland China stocks dropped more than 1 per cent, while the Hong Kong's Hang Sang dipped more than 2 per cent.

In India, across the board selling was witnessed with even bluechip stocks like HDFC Bank and Reliance Industries being hammered. Not a single Nifty stock was among the gainers.

NBCC shares were down more than 3 per cent, despite the company being expected to generate Rs 32,000 crore from 8 million square feet of commercial space in South Delhi's Nauroji Nagar and Sarojini Nagar.

Metal stocks were the worst impacted with Tata Steel and JSW Steel, both falling more than 3 per cent in trade. Almost all of the Nifty stocks were trading in the red. Rs 5 lakh crores of market capitalization has gone in a single day, according to reports. The Dow Jones Industrial Average Futures were once again pointing to lower openings across the US markets.