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Trading halted for 45 minutes: Sensex, Nifty down

Trading halted for 45 minutes: Sensex, Nifty down

| @indiablooms | 13 Mar 2020, 04:15 am

Mumbai/IBNS: The domestic trading market in India witnessed another day of mayhem as trading was stopped for 45 minutes shortly after the day's trade opened on Friday after the benchmark indices nosedived 10 per cent each.

After the day's trading begun, the S&P BSE Sensex dropped to 2,522.05 points to hit 30,256.09.

NSE Nifty benchmark also plunged to 8,830.90, down 759.25 points from the previous close. 

It had started the proceedings at 9,107.60.

Meanwhile, Canada’s largest stock exchange plunged more than 12 percent in its worst loss since 1940 as the novel coronavirus (COVID-19) pandemic continues to pound global markets, reported Sputnik.

The Toronto Stock Exchange (TSX) has shed 30 per cent since the high recorded on February 20, falling deeper into bear territory on Thursday when it dropped 1,700 points.

The Dow Jones Industrial Average, the broadest equities gauge on the New York Stock Exchange, lost 2,353 points, or 10 percent. It was the second time in a week that the Dow had lost 2,000 points in a day.

The turbulence in the markets is another blow to Canada’s floundering resource sector, which has been beset by the continued blowback of the oil price crash in 2014 and disputes with the Indigenous community that led to blockades across the country.

On Wednesday, Prime Minister Justin Trudeau unveiled a 730 million dollar package to address the medical and financial impacts the deadly virus is having on Canada.

According to the latest Government of Canada data, 138 Canadians have now been infected with the new strand of the coronavirus.

On Wednesday, the World Health Organization declared the novel coronavirus spread a pandemic. The number of cases of infection with the virus worldwide has surpassed 126,000 and more than 4,600 people have died from the disease.

About 68,000 people have recovered from the novel coronavirus infection.

Nikkei 225, the Tokyo Stock Exchange's main index, dropped by 8.5 percent soon after trading started on Friday, stock market data shows, Sputnik reported.

The index is falling amid the significant drop in the US stock market as well as the ongoing outbreak of the coronavirus disease (COVID-19).

On Thursday, three main US indexes – Dow Jones Industrial Average, S&P500 and Nasdaq – closed down almost 10 percent each after US President Donald Trump had announced a ban on travel from the European Union to the United States over the COVID-19 pandemic.

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