BENGALURU: Indian stocks on Monday recorded their worst single-day fall in more than four years, tracking global markets lower, as panic over the economic fallout of the coronavirus outbreak intensified and oil prices plummeted.

The NSE Nifty 50 index closed down 4.90 per cent at 10,451.45, its worst daily decline since August 2015. The benchmark S&P BSE Sensex ended 5.17pc lower at 35,634.95.

“Panic is an understatement,” said Manav Chopra, head of research for equity at Indiabulls Securities Ltd in Mumbai.

“Important support levels have been breached with ease in this environment,” he said of the Nifty 50.

Published in Dawn, March 10th, 2020