Plunging Nifty set to breach 10,000 mark

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could crash 491 points at the opening bell.

Industrial production and manufacturing production data for January along with Inflation rate for February will be announced today, 12 March 2020.

Overseas, Asian stocks were trading lower on Thursday after US President Donald Trump said the United States will suspend all travel from Europe as he unveiled measures to contain the coronavirus epidemic that has extracted a heavy human and economic toll worldwide.

Traders also took their lead from a global rout as the World Health Organization declared the spread of the new virus was officially a pandemic.

In US, stocks slumped on Wednesday, with the Dow ending in bear-market territory for the first time in more than a decade, after the World Health Organization designated the global spread of COVID-19 a pandemic, unnerving investors already disappointed with the lack of an economic policy response from the Trump administration.

Back home, the Sensex ended with small gains while the Nifty ended almost flat after a volatile trading session on Wednesday. Gains were capped as investors continued to worry about the unabating spread of the coronavirus. The barometer index, the S&P BSE Sensex, rose 62.45 points or 0.18% at 35,697.40. The Nifty 50 index shed 2.55 points or 0.02% at 10,448.90.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 3515.38 crore yesterday, 11 March 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2835.46 crore, yesterday, 11 March 2020, as per provisional data.

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