Sensex Tanks 1,435 Points, Investors Lose Over 4 lakh Crore on Market Opening

Another black day for the markets, as Sensex drops 1435 points today morning. Investors lost over 4 lakh crore on market. Domestic markets are expected to remain volatile as the novel coronavirus spreads across the globe.  Domestic markets shivered that were sent across by the global peers after the Dow Jones fell 3.58 per cent yesterday, which was followed by S&P 500 that tanks 3.39 per cent.

MSCI’s broadest index of APAC shared outside Japan slipped 1.3 per cent, while Japan’s Nikkei dropped down 2.3 per cent. However, the BSE-listed firm at the end of trading stood at 147 lakh crore. Along with this, the rupees too depreciated 53 paise to 73.86 against the US dollar in the morning.

"It's been a roller-coaster market in recent days for equity investors, and today we appear to be on the downward leg for that ride. What you need is time, and unfortunately, that is still going to result in volatility”, comments, Terry Sandven, Chief Equity Strategist, U.S Bank Wealth Management. 

On a net basis, foreign institutional investors (FPIs) sold equities worth 2,476.75 crore, while the domestic investors bought shares worth 2,510.89 crore. Apart from this, Yes Bank tanked 25 per cent after the capital-starved lender was placed under a moratorium, with the Reserve Bank of India (RBI), also capping deposit withdrawals at 50,000 per account for a month and superseding its board.

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