Domestic stock market nosedived on Friday, mirroring a slump in global markets on fears that the Covid-19 (coronavirus) outbreak could turn into a pandemic and derail growth. The barometer index, the S&P BSE Sensex, tumbled 1448.37 points or 3.64% at 38,297.29. The Nifty 50 index lost 414.10 points or 3.56% at 11219.20.Investors were also cautious ahead of the India’s December quarter gross domestic product (GDP) numbers to be released later today, 28 February 2020.
United Airlines Holdings Inc sharply cutting flights to Japan and South Korea, as travelers worried about the Covid-19 (coronavirus) outbreak slash ticket purchases for those destinations.The Dow and the Nasdaq also registered their deepest weekly percentage losses since October 2008.The Nasdaq managed to eke out an 0.01% gain after plunging as much as 3.5%.
Nifty50 closed lower at 11201.80 level, -431.50 points, or -3.71 per cent. Nifty Support : 11160 and 11080 Resistance : 11280 and 11320.
