Stock Market Today: After opening around 4.75 per cent on the lower side from its previous close, the Indian indices went further down ward on the rise of Coronavirus spread in over 115 counties. The BSE Sensex crashed 2,919 points and closed at 32,778 levels while the Nifty index nosedived 868 points and closed at 9,590 levels. Bank Nifty slide 2,516 points after closing at 23,971 levels.
Speaking on the stock market crash Hemant Sood, Managing Director at FINDOC said, “Stock market on Thursday has seen a bloodbath with Sensex and Nifty going down to multi-month lows leaving investors struggling to find the right stocks for investing. There is a bearish sentiment in the market, hence, it is important that investors do not get hassled at the moment and wait for the right opportunity so that the capital does not get eroded. The forced halt in stock-market activity, driven by a coronavirus and a geopolitical fight over oil, has proved wrong all algorithms of professional traders and investors.” Sood said that a pause is helpful for an average investor, who can either be scared and make losses or sit tight in the present situation.
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“It is suggested to contemplate and take a deep breath and then ask yourself, Is there any change in your long-term goals?” If the answer is no, one should ignore the market volatility.The other option for the investor is to park funds as the markets are down, and when the markets start moving upward an investor can identify momentum stocks and invest in them,” said Sood.
Among the major Asian markets, the Japanese Nikkei 225 index crashed 4.56 per cent, South Korean Kospi nosedived 3.87 per cent, Hang Seng dipped 4.04 per cent while Shanghai index went off 1.63 per cent.