The last trading day of the week is witnessing a steep decline in the stock market. The biggest drop is being recorded in the stock market after November 2016. The stock market is going down for the sixth consecutive day. In today’s opening trade, all 30 Sensex stocks are down. On Friday (28 February 2020), the 30-share BSE major index Sensex opened at a level of 39,087.47 with a steep fall of 658.19 points. On the other hand, NSE Nifty, the 50-share major index has opened at a level of 11,382 with a sharp fall of 251.3 points.
The deadly flu, which struck China in December has now spread to the US, raising fears of the outbreak turning into a pandemic and adversely impacting global growth. Concerns of corona virus turning into a pandemic and spreading into countries outside China have off late impacted investor sentiments both in the global and domestic markets.
Sensex, Nifty trade with heavy fall
In early trade at 9.40 am, the business is being recorded with a strong fall in the Sensex. The Sensex is currently trading with a steep fall of around 1,100 points and the Nifty by about 340 points. Business is registering a decline of over 3.5 per cent in Smallcap and m-cap. On 20 January, the Sensex and the Nifty touched a new high of 42,273.87 and 12,430.50 respectively.
Due to the steep fall in the stock market, investors lost nearly Rs 4 lakh crore at the start of trading on Friday. On Thursday, the market cap of the total companies listed above the BSE was Rs 1,52,40,024.08 crore. 3,86,996.2 crore decreased to Rs. 1,48,53,027.88 crore at the end of trading on Thursday.