Sensex lowers by 581 points , Nifty below 8,300 because of coronavirus fear

Indian markets continued their downward slump for the fourth day on Thursday, predominantly brought on by coronavirus concerns.

According to one business website “The BSE Sensex ended 581 points lower in a highly volatile session. It oscillated in a broad range of 2,656 points between an intraday low of 26,714.46 in the first half of the session and a high of 29,370.53 in late-afternoon deals. The National Stock Exchange Nifty 50 settled 205.35 points, or 2.42%, down at 8,263.45, after dropping below the 7,900 level intra-day. Earlier in the day, Nifty hovered around 7,900 for the first time since December 2016”.

The biggest lower on Sensex are Bajaj Finance, which tanked over 10%, followed by Axis Bank, Maruti, Mahindra and Mahindra Limited, Tech Mahindra and ONGC. On the Nifty 50, Bharti Infratel, Coal India, Zee Entertainment, Yes Bank, and Maruti Suzuki suffered losses.

Bajaj Auto, Hero MotoCorp, ITC, Bharti Airtel, and Power Grid Corporation Limited are among the biggest gainers on Sensex in the afternoon trade. The stocks that recovered losses on the Nifty are Bajaj Auto, Bharti Airtel, ITC, Hero MotoCorp, and Power Grid Corporation. The rupee plummeted 81 paise to 75.07 against the US dollar during the day.

Covid-19 has an adversely impacted way of working A survey has revealed that a majority of professionals believe the outbreak has adversely impacted their way of working.  Around 63 percent of respondents affirmed that the novel coronavirus or Covid-19 pandemic has influenced their way of working and about 33 percent said they have shelved their business travel plans due to this, a TimesJobs survey titled ‘Coronavirus and its impact on jobs’ has revealed.

The survey was done among 1,256 working professionals from different industry verticals across the country. About 27 percent of respondents claimed that the IT sector will be the worst hit by the spread of the virus, followed by the import and export sector (stated 23 percent of respondents). While 13 percent of respondents said the healthcare sector and the aviation sector will be most impacted by the Coronavirus outbreak