COVID-19: Sensex recovers after early loss; Nifty still in red amid virus scare

The Bombay Stock Exchange’s (BSE) Sensex recovered over 1000 points after an early morning loss due to the Coronavirus scare around the world and shutdown of major economical centres across the world.

25 out of the 30 Sensex benchmark companies are still in the red and are finding it tough to recover their losses.

ALSO READ:Sensex continues its free fall; telecom stocks plummet

Automobile major Maruti is the worst performer and has lost over 10% of its share value, whereas ITC Hospitality Limited is the TOP gainer and is 3% above its opening price.

Sensex had lost over 2100 points in the early morning trade and the NIFTY shed over 7900 points.

Both indices have recovered ever since.

The value of the rupee too has hit the danger mark of 75 and is presently dearer by 79 paise.

This can also be attributed to the US Federal Reserves reducing their lending rate to near Zero.

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