March 19, 2020 / 3:33 AM / 10 days ago

Indian stocks set to plunge as virus panic grows

BENGALURU, March 19 (Reuters) - Indian shares were set to sink in line with other markets on Thursday, as a global selloff triggered by fears over the fallout of the coronavirus pandemic showed little sign of abating.

India’s NSE stock futures listed on Singapore Exchange were down 5.30% at 0320 GMT. The blue-chip NSE Nifty 50 index, which fell 5.5% on Wednesday, has plumbed multi-year lows and shed 30% this year.

Globally, the dollar surged, bonds plunged and markets struggled to find their footing on Thursday as the European Central Bank’s latest promise of stimulus provided only brief solace.

The virus outbreak has claimed more than 8,000 lives globally, disrupting business and ravaging markets worldwide. In India, it has killed three and infected more than 130 people. (Reporting by Sachin Ravikumar; Editing by Anil D’Silva)

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