The Indian stock market on Friday gave out early gains only to fall for a fifth straight session because of the global market lockdowns for the Coronavirus panic and prevention. The Coronavirus pandemic has caused the major economies of the world to shut down and all the policymakers and authorities across the world are thinking of ways to make out a solution of this economic fallout.
The global stock market was recovered from falling deep by a new wave of stimulus being released by the international banks around the world. Before that the markets were about to fall all the way off to the grounds.
Europe, Japan, Australia and the US were the countries whose banks saved a major shortfall of the global stock market.
India’s NSE Nifty 50 index rose as much as 2%, but was down 0.28% at 8,240.80 by 0410 GMT, while the S&P BSE Sensex was lower by 0.46% at 28,148.58.
“There is a fear factor among both the buy and sell sides. We are still not out of the woods,” said Rusmik Oza, head of fundamental research at Kotak Securities, Mumbai. “We have suggested that clients keep buying because we are close to the bottom”, he added.
More and more offices and other business institutions all across the country are facing shut downs and other related loses as the COVID-19 outbreak is threatening bring upon further loses to the economy.
The virus originated in China and has spread quickly around the globe, claiming thousands of lives becoming a major obstruction to economic activity.
In order to bring the situations under control, the early news that worked as an aid was that the US government will release a $1 trillion emergency fund which will provide direct financial help to Americans and China will also release a fund of some trillion yuans to provide financial help to the markets.