MUMBAI: The stock market continues to plummet after the announcement of the coronavirus epidemic. With almost all the international stock markets, the Indian stock market has seen a record decline. This is said to be due to the fact that investors are panicking and withdrawing their capital from the stock market.
As of 11:30 a.m. Thursday, the Sensex was down 2,500 points, while the National Stock Exchange was down 41 points. The rapid decline is estimated to have cost investors around Rs 10 lakh crore. Following the decline, the total market capitalization of listed companies on the Bombay Stock Exchange has shrunk to Rs 1.24 lakh crore.
The Government of India has taken some tough steps to control the coronavirus infection. All tourist visas have been revoked until April 15. Various ceremonies are being held. The airline is likely to suffer huge losses after the visa is revoked. As a result, stock prices of companies such as Indigo and SpiceJet have fallen in the stock market today.