The week gone by saw markets under pressure and lose ground on four of the five trading sessions. Post announcement of budget they simply crashed on Saturday when a special trading session was held and ended the week with big losses. BSE SENSEX lost 1,877.66 points or 4.51 percent to close at 39,735.53 points while NIFTY was down 586.40 points or 4.79 percent to close at 11,661.85 points. The broader markets saw BSE100, BSE200, and BSE500 lose 4.96 percent, 4.88 percent, and 4.78 percent, respectively. BSE MIDCAP was down 4.44 percent while BSE SMALLCAP was down 3.38 percent.
The Indian Rupee was down 2 paise or 0.03 percent to close at Rs 71.34 to the US Dollar. Dow Jones had a very poor showing on Friday when it lost 600 points to end the week with losses of 733.70 points or 2.53 percent at 28,256.03 points.
January futures expired at 12,035.80 points losing 90.75 points or 0.75 percent.
Coronavirus has assumed serious proportions in the sense that the global supply chain is being disrupted with serious time implications. This is becoming a matter of concern as globally people are worried about importing from China. Further travel is being affected between countries and no one knows for sure who could the next carrier of the virus be.
This has also caused crude prices to soften significantly as world demand is expected to slow down. (IANS)