Stock Market: On account of the rise in Coronavirus fears in the global markets, the Indian indices opened on the lower side today. The BSE Sensex opened 91 points down at 35,725 while the Nifty-50 index went down 13 points at 10,464 levels. Bank Nifty index also went southward 185 points at 26,648 levels.
Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, “Overall the market trend is bearish. Nifty is having strong resistance at 10,720 levels while it has immediate support at 10,140 levels. If the lower support gets broken, then the major support below 10,140 is 9,800, however, it seems that Nifty will hold above 10,140 a Coronavirus doesn’t have that kind of impact, which we are witnessing globally.”
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Among the major Asian markets, the Japanese Nikkei 225 index went down 1.62 per cent, Kospi nosedived 1.44 per cent, Hang Seng went off 0.34 per cent while the shanghai market went 0.32 per cent northward.