Stock Market Live Updates March 19 2020:
10:34 AM: Rupee hits fresh low
The rupee hit a fresh record low of 75.0100 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world’s reserve currency.
10:15 AM: Mild recovery in Sensex
At 10.05 AM, the Sensex and Nifty were at a 3-year low. The rupee too was at a record low. Sensex is down 1798.84 points or 6.23 per cent at 27,070.67 and the Nifty 523.15 points or 6.18 per cent at 7,945.65.
Earlier, the Nifty breached 8,000 for the first time since December 27, 2016.
US stocks deepened their selloff on Wednesday and the Dow erased virtually the last of its gains since President Donald Trump’s 2017 inauguration, as the widening repercussions of the coronavirus pandemic threatened to cripple economic activity.
The benchmark S&P 500 index ended down 5.2 per cent, though it pared losses late in the day as the US Senate passed legislation to provide billions of dollars to limit the damage from the outbreak through free coronavirus testing, paid sick leave and expanded safety-net spending.
