All BSE sectoral indices closed in red on Thursday due to broad based selling by jittery investors after the World Health Organisation declared COVID-19 a pandemic and the US imposed a ban on travellers from Europe.

BSE oil & gas index was the top loser, cracking 9.82 per cent, while realty, basic materials, bankex plunged more than 9 per cent. Energy, bankex, finance, healthcare, industrials and IT indices also closed with losses.

As stocks crashed amid a global equity sell-off, investor wealth eroded by Rs 11,27,160.65 crore. Total market capitalisation (m-cap) of BSE listed companies was Rs 1,25,86,398.07 crore at close.

The m-cap of BSE-listed companies stood at Rs 1,37,13,558.72 crore at close on Wednesday. Besides, 2,265 companies declined while only 201 firms advanced and securities of 1,180 companies touched 52-week low values. Also, 546 companies hit the lower circuit on Thursday.

Global markets reeled after the World Health Organization (WHO) termed the coronavirus outbreak as a pandemic, and expressed deep concern over the “alarming levels of inaction“.

Following the announcement, the US imposed a ban on travellers from Europe, stoking fears of recession amid event cancellations and companies warnings. Besides a selloff in global equities, massive plunge in international oil prices and depreciating rupee added to the volatility, traders said.

Brent crude oil futures dropped 5.50 per cent to $ 33.82 per barrel. Domestic equity benchmark Sensex sank 2,919.26 points to close at 32,778.14, while the NSE Nifty cracked 868.25 points to settle at 9,590.15.

All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank. BSE smallcap index fell 8.72 per cent, while BSE MidCap index declined 7.84 per cent.

comment COMMENT NOW