INSUBCONTINENT EXCLUSIVE:
Investor wealth on Dalal Street tumbled by a whopping Rs 10 lakh crore in six trading sessions as concerns over coronavirus becoming a
trade against Rs 158.71 lakh crore on February 19
The benchmark BSE Sensex tumbled 2,661 points to 38,661 from 41,323 during the same period.
The BSE Sensex cracked 1,000 points, or 2.52 per
On Wall Street, Dow Jones Industrial Average tanked 1,190.95, or 4.42 per cent to 25,766.64 on Thursday, while Nasdaq declined 414.3 points,
or 4.61 per cent to 8,566.48, and S-P 500 settled 137.63 points, or 4.42 percent, lower at 2,978.76.
Fresh cases of Covid-19 are now being
reported outside China, with South Korea, Italy and Iran emerging as new epicenters
increased by more than 200 to 650
Germany has about 27 cases, France around 18 and Spain 15.
South Korea, which has the most cases outside China, reported 256 new infections
on Friday, bringing the total number of infected in the country to 2,022.
According to Centrum Broking, India sources a considerable share
of capital and intermediate goods from China, and the industrial clampdown in Chinese province is most likely to impact the domestic
Hence, any disruptions in the supply chain would be in effect after the estimated time slack
The ramification of such a virus infecting the production hub and trading partner of the world could have a cascading effect on the global
The selloff is so severe in the market and is evident from the fact that none of the stock in the Sensex pack delivered positive returns to
investors during February 19-28
Shares of the ONGC declined the most (12 per cent) during the period
Reliance Industries, Maruti Suzuki, Hero MotoCorp, Mahindra - Mahindra, Larsen - Toubro, HCL Technologies and ICICI Bank also retreated over
is in line with global selloff
It is a risk off market right now, which is why gold prices have also surged in the recent past
Global market is in panic mode with the spread of coronavirus
index tumbled 13 per cent during February 19-27
BSE Oil - Gas, Auto, Realty, Capital Goods, IT, TECk, Power, Consumer Durables, Healthcare, Telecom, FMCG and Bankex also lost between 4-11
11th year of bull market, which started on March 6, 2009
Markets by any standards, even in India are very expensive
The so-called bluechips or growth stocks are very expensive based on a price to earnings ratio and especially on a price to sales ratio
coronavirus was the catalyst to a decline but the deeper reason for a decline is that by early February, markets around the world were
overbought, expensive and disregarded a global economy that had begun to slow down in 2019.