Sensex drowns as corona virus effects market

The market benchmarks Sensex and Nifty are at lower points due to the fear of corona virus.

The S&P BSE Sensex index plunged as much as 1,155.16 points to hit 38,590.50 in the first few minutes of trade, and the broader NSE Nifty benchmark slumped to as low as 11,286.50, dropping 346.8 points from the previous close. A selloff across sectors pulled the markets lower for the sixth session in a row, with banking, automobile, metal and oil & gas shares being the worst hit.

Brent crude oil futures fell another 2.47 percent to USD 50.45 per barrel early in the day.

The rupee depreciated 28 paise to 71.89 against the US dollar in morning session.