Bombay Stock Exchange
Bombay Stock Exchange

As the markets tanked over 2,800 points soon after the markets opened, Sensex hit 10% lower circuit and subsequently the trading has been put to a halt for about 45 minutes. This is the second time the trading has been halted for 45 minutes.

Now, the pre-trading will be at 10.42 am.

The last time the trading was halted on March 13 as the stock market crashed by 3,090 points at 29,687.52 after the World Health Organisation (WHO) declared coronavirus outbreak as a pandemic.

Amid the slump, PM Narendra Modi will interact with the industrial bodies through a video conference at 4 pm on Monday.

Moreover, RBI is likely to allow repos in coroporate bonds, said sources.

Markets opened 2,500 points lower on Monday as the government announced a lockdown in over 75 districts where coronavirus cases have been detected. Similarly, Nifty 50 also tanked 800 points on Monday during the opening session.

As the week started off, Sensex crashed 2532.74 points or -8.47% at 27,383, continuing to trade below 30,000. The broader Nifty 50 crashed 799.75 points or -9.14% at 7,945.70 on Monday.

Sensex further slipped 2859.74 points or -9.56% at 27,056.22 indicating a sharp fall due to the lockdown.

Moreover, all the stocks on the stock exhanges showed in red on Monday.

Following a high level meeting on Sunday, officials have decided to put 75 districts from where individuals have tested positive for the novel coronavirus under a state of near-complete lock-down.

The decision was taken at a meeting on Sunday morning with the Chief Secretaries of all the States and the Cabinet Secretary and the Principal Secretary to the Prime Minister.

The only exceptions will be emergency services and shops selling commodities such as shops selling grocery, vegetables, milk, medicines etc.

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Free Press Journal