Market Benchmark Index Sensex continued to in the bear phase as the market opened over 1,900 points lower in the opening session on Thursday. The Broader Nifty 50 was down by over 400 points.
As the cases of coronavirus rise in India, Sensex was down by 1,900 points or 6.25% at 27,066 while Nifty 50 by 522 points or 6.17% at 7,946 during the opening session. Earlier, Sensex traded 2,000 points down before settling at 1,900 points.
The financial services index witnessed carnage after falling 8%.
Top gainers in the market were Power Grid and NTPC and stocks of other companies showed in red on the Bombay Stock Exchange.
Sell-off intensified in the Indian stock market on Wednesday, as both Sensex and Nifty dropped to their lowest levels in three years.
Continuing to be in the bear market, Benchmark Index Sensex ended 1,709 points -5.59% at 28,869 while the broader Nifty 50 by 425 points -4.75 at 8,541 during the closing session on Wednesday.
The market crash attributes to the increase in number of coronavirus cases in India. The last time the market traded below 30,000 mark was in 2017. Now, the banking sector remained the most affected with IndusInd Bank hitting a 52-week low on Wednesday.
