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Blame It On Corona
On 1 February 2020, as the FY 2020-21 Union budget was presented in the lower house of the Indian parliament, Nifty fell by over 3% (373.95 points) while Sensex fell by more than 2% (987.96 points). The fall was also weighed by the global breakdown amid Coronavirus outbreak centered in China.
On 28 February 2020, Sensex lost 1448 points and Nifty fell by 432 points due to growing global tension caused by Corona virus, which W.H.O said has a pandemic potential. Both BSE and NSE fell for the entire five days of the week ending with the worst weekly fall since 2009
On March 4 and 6, markets fell by around 1000 points and several crores of wealth was wiped out. On 6 March 2020, Yes Bank was taken over by RBI under its management for reconstruction and will be merged with SBI. This was done to ensure smooth functioning of the bank as it was struggling for couple of years to cope up with heavy pressure due to cleaning of bad loans.
On 9 March 2020, the Sensex fell by 1,941.67 points, while Nifty-50 broke down by 538 points. The fear of COVID-19 outbreak has created havoc all over the globe and India is no exception. Further, the recent Yes Bank crisis also made the markets fell. The markets ended in red with Sensex closing on 35,634.95 and Nifty-50 on 10,451.45.
On 12 March 2020, the Sensex fell by 2919.26 points (-8.18% ), the worst continuation of the week in the history while Nifty-50 broke down by 868.25 points (-8.30% ) amid World Health Organisation (WHO) declaring Coronavirus outbreak as "pandemic".Sensex ended to 33-month low of 32778.14.
On 16 March 2020, Sensex plunged by 2,713.41 points (around 8%), the second worst fall in its history. On the other hand, Nifty ended below 9200–mark at 9,197.40 due to global economic recession.
However, the Sensex continued to fall straight for 4–continuous days till 19 March 2020, losing 5815 points during the period.
2 Comments
It's not good for economy and world