Research Icon - Sensex, Nifty down 8%; All stocks in red

Equity benchmark indices opened in the sea of red on Monday amid global sell-off and a rise in coronavirus cases in India, also lockdown by the government, joining several countries in the fight against the deadly coronavirus (COVID-19) outbreak.

It was predicted that if Nifty index may hit the 10% lower circuit, then a 45-minute trading halt will follow before trading resumes.

All Sensex and Nifty stocks traded in the red.

The S&P BSE Sensex index opened 2,307.16 points lower at 27,608.80, and the broader NSE Nifty50 started the session at 7,945.70, down 799.75 points.

Several states in India will remain under a lockdown till March 31, as the country has registered 341 cases of coronavirus, with seven deaths as of Sunday.

Asian indices opened deep in the red led by the Australian, New Zealand and South Korean indices as panic like situation gripped world markets. The delay in the passage of stimulus package in the US saw futures dip sharply, which saw most Asian markets react on the negative side.

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