Mumbai: Monday proved to be disastrous day in the history of the Bombay Stock Exchange. Fearing adverse impact on the economy due to the scare of ‘Coronavirus’, which has forced 25 Indian states under lockdown, the stock market saw its largest fall. The BSE sensex fell by almost four thousand points. The entire day saw the investors lose ₹13.88 lakh crore with many large companies seeing a terrible erosion in their market value. ₹56.22 were lost last month with similar decline at the stock market.
Trading at the Bombay Stock Exchange had to be halted twice in the last ten days due to the steep fall in the stocks. 13 March saw both BSE and NSE tumble badly. The BSE had seen some 3000 points drop. It was also the first time since 2009 that the Nifty had reached a record number for daily fall which had forced the trading to halt.
Monday again saw the BSE and the Nifty face a similar situation as the BSE dropped by 3,935 points. Experts termed it as a day of bloodbath for the investors. The stock market had never seen such a great fall. The BSE sensex fell about 13% to close at a low of 25, 981 while the Nifty closed at 7,610. Stocks of all major companies tumbled badly with Axis Bank taking the maximum hit with a 28% fall.
The stock market is witnessing a continuous fall due to the Coronavirus pandemic. Just two days back, the SEBI had taken a decision to control ‘Short Selling’. Besides, the RBI purchased government bonds worth ₹30 thousand crores to increase the liquidity in the market. However, these steps have failed at halting the continuous fall the market is experiencing. Worries are expressed about the fall, continuing for a few more days.