Stock Market: Sensex, Nifty continue to crash on Coronavirus; ICICI Bank, Vodafone Idea stocks bleed

Stock Market: On account of Coronavirus fears, the Indian indices crashed to the tune of over 2.50 per cent. The BSE Sensex dipped 810 points and closed at 30,579 levels while the 50-stocks Nifty nosedived 230 points after closing at 8,967 levels. Bank Nifty bleed 946 points and closed at 22,155 levels.

Speaking on the Indian stock market's continuous bleed Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is bearish because of the rise in Coronavirus fear. Nifty has closed below 9,000 levels, which means it's immediate support is now 8,555, it's previous three years' low around three years."

See Zee Business Live TV streaming below:

Banking stocks received the maximum beating as the BSE Banking index crashed to the tune of 4.46 per cent. Banking major ICICI Bank share price crashed 8.95 per cent, IndusInd Bank shares dipped 8.89 per cent, shares of Federal Bank nosedived 7.99 per cent, State Bank of India or Si stock price went off 3.74 per cent while Axis Bank stocks went southward 3.95 per cent.

Telecom stocks also witnessed heavy selloff in the intraday trade session. The BSE Telecom index shed 3.46 per cent in the intraday trade session. Vodafone Idea share price crashed more than 15 pre cent, Bharti Infratel shares went down 7.36 per cent, shares of Bharti Airtel went off 2.27 per cent, Reliance Communications stock price dipped 3.80 per cent, Mahanagar Telephone Nigam Ltd or MTNL stock price went southward more than 1 per cent while Vindhya Telelinks scrip dipped 1.30 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index went up 0.06 per cent, South Korean Kospi crashed 2.47 per cent, Hang Seng aded 0.87 per cent while the Shanghai index went off 0.21 per cent.