Nifty plunges over 7% on global woes

Domestic shares were hammered on Thursday after the World Health Organization (WHO) declared the coronavirus outbreak a pandemic with Italy tightening its quarantine and the US imposing a ban on flights to Europe.

The Nifty 50 index fell 736.80 points or 7.05% to 9,721.60. The index has fallen 21.79% from its record high of 12,430.50 hit on 20 January 2020.

Among the index constituents, Bharat Petroleum Corporation (down 13.76%), Yes Bank (down 13.02%), Vedanta (down 11.68%), Tata Motors (down 11.27%), Mahindra & Mahindra (down 10.2%), Axis Bank (down 10.16%), Adani Ports and Special Economic Zone (down 9.85%), Oil & Natural Gas Corporation (down 9.41%), GAIL (India) (down 9.39%) and Grasim Industries (down 9.32%) were the top losers.

The Nifty Midcap 100 index slipped 1249.15 points or 8.06% to 14,245.70. The index has fallen 22.98% from its 52-week high of 18,495.90 hit on 27 January 2020.

Among the index constituents, Adani Power (down 20.63%), Prestige Estates Projects (down 19.99%), Glenmark Pharmaceuticals (down 19.47%), Future Retail (down 19.35%), PNB Housing Finance (down 17.08%), IDBI Bank (down 14.98%), Graphite India (down 14.95%), Apollo Tyres (down 14.74%), Sterlite Technologies (down 14.73%) and Jubilant Life Sciences (down 14.13%) declined.

The Nifty Smallcap 100 index fell 507.60 points or 9.83% to 4,656.40. The index has fallen 31.75% from its 52-week high of 6,822.50 hit on 15 April 2019.

Among the index constituents, SpiceJet (down 19.97%), Lemon Tree Hotels (down 19.91%), Rain Industries (down 18.79%), Welspun India (down 18.5%), Ashoka Buildcon (down 18.3%), Avanti Feeds (down 17.33%), NCC (down 17.13%), Radico Khaitan (down 16.61%), Sun Pharma Advanced Research Company (down 16.44%) and Balrampur Chini Mills (down 16.34%) edged lower.

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