The effects of coronavirus pandemic are getting worse more than expected. From the real world to the virtual world, from public health to economical Sensex status all are falling apart. The stock market begins to drop globally as well as domestically This pandemic turned the global economy around. The world economy is sinking in the red. Let’s have a look at it.
Sensex And Nifty
Before we go, we also need to have an idea about Sensex and Nifty. Sensex is the stock market index of the top 30 component companies. This company represents various industrial sectors. Sensex is the pulse of the domestic stock market in India.
Nifty 50 represents the benchmark of the National Stock Exchange of India including 50 Indian companies stocks. IISL(India Index Services and Products) manages it. Nifty covers 13 sectors of the Indian market. So, Sensex and Nifty are the two main indices in India. They also represent Indian Capitalization in Global Economy.
Sensex Crashes 1800, Nifty below 7900
As the effect of coronavirus started to show its color, it created another wound in the global economy. Indian Equity markets crashed again, but this time it is worst than before. BSE Sensex was down by 1785.28 at 27084.23 and Nifty was down by 6.90% at 7884.65. This was the lowest drop since 27th December 2016.
According to Nifty, all indexes are trading in the red. Media stocks are dropping by 8.5% meanwhile others were down by 5%. The government is already trying to boost up the sentiments but it is working rarely. This coronavirus pandemic triggers a global recession. Worldwide stocks crumbled more after WHO’s declaration. Asian markets are also falling as well as US stocks.
COVID-19 not only started to infect other countries other than China, but it is also destroying the economical chain as well. It was the second-biggest drop of Sensex for the Indian Stock market. But now, even market analysts can’t give us certainty. The next 15 days is most crucial for the world economy. All they can do is to hope until the situation turns around.