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Worst stock market rout in nine years likely to be extended: Analysts

Market players said domestic investors have been hit by a double whammy - the YES Bank crisis and the rising number of coronavirus cases

Sundar Sethuraman  |  Mumbai 

The equity markets are off to the worst start to a year since 2011. On a year-to-date basis, the benchmark Nifty is down 9.7 per cent. Last time, it had dropped more during the period under consideration was in 2011, when the European debt crisis had dampened global investor sentiment. On Friday, the 50-share index ended at 10,989.

The index is down 11 per cent from its record high of 12,352 on January 17. The market is likely to slide further, say technical analysts. “The Nifty has formed a bearish candle on the weekly chart. Resistance is gradually shifting lower. Now ...

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First Published: Sun, March 08 2020. 22:45 IST
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