Stung by coronavirus, markets log biggest yearly loss in FY20 since 2009

A slump in demand saw Brent crude prices drop 66 per cent to an 18-year low to below $22 a barrel during the year

The domestic markets have logged their biggest yearly loss since 2008-09 — when they had declined 36 per cent on account of the global financial crisis — with the Nifty dropping 26 per cent in FY20. The mid- and small-cap indices, focused on the broader market, declined as much as 45 per cent.
 

The rupee weakened over 8 per cent against the US dollar during the year, amid Rs 55,000-crore sell-off in March.
 

Unlike 2008-09, when the losses were spread across many months, the bulk of the market fall in FY20 took place in March because of the spread of