Due to the epidemic spread by corona virus in China entire stock market is effected. It’s effect is being seen all over the world. The Indian stock market also saw a downward trend on Tuesday due to signs of softness in the global market. American Apple Inc. spoke of the damage caused by the corona virus after which global markets are broken.
On Tuesday, the Bombay Stock Exchange (BSE) Sensex opened 13 points lower at 41,042.46 and by 9.45 am it dropped by 264 points to reach 40,791.61. Similarly, the National Stock Exchange NSE opened with a loss of 17 points at 12,028.25 and a drop of 82 points at 11,963.25 by 9.45 am.
Market at a Glance
Market breadth was negative with declining shares outpacing advancing ones. About 318 stocks of NSE rose and 442 declined. The leading stocks rising included Zee Entertainment, Coal India, Network 18, DEN Network, Hathway Cable etc. While the falling stocks included Yes Bank, Hindalco, Vedanta, Tata Motors and IndusInd Bank.
Depreciation of Indian Rupee
On Tuesday, trading in rupee also appeared soft. The rupee started trading 11 paisa down at 71.40 against the dollar. The rupee had closed at 71.29 on Monday. US Company Apple Inc has said that its result for the March quarter could be lower than expected due to the corona virus, as it had to reduce production due to weak demand in China.