Market rebounds sharply after halt; Sensex pares losses

Market rebounds sharply after halt; Sensex pares losses

 Representative image. (PTI Photo)

Indian equities rebounded heavily after trading was suspended for an hour for the first time in the past 12 years and were trading in green.

The 30-share Benchmark of BSE – Sensex – pared its losses by over 3,500 points and was trading at 33,295, up just 517 points (1.58%).

Similarly, broader index NSE Nifty was up 60 points (0.60%) at 9,651 as domestic investors saw it as a huge opportunity to accumulate their portfolios.

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Earlier, all trading was halted in Indian markets for 45 minutes on 50-share Nifty50 as it crashed by over 10% in within the first five minutes trade

The broader index – 50-share NSE Nifty – collapsed by 10.07% in just five minutes of the trade – which put in place the circuit breaker. Before halt, the Nifty was trading at 8,624, down 966 points (10.07%).

At the time of the circuit breaker, the 30-share index of BSE – Sensex – had plunged by 3,090.62 points (9.43%) at 29,687.52 – below the psychological 30,000-mark.

In the second pre-open, the sell-off continued as Sensex was trading with losses of over 3,500 points.

Other far eastern markets are witnessing a bloodbath, as Nikkei 225 has collapsed over 4% after Dow 30 crashed 10% yesterday over fears that Washington’s response to Coronavirus will not be adequate.

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