Concerns over the coronavirus outbreak has led to volatility in the stock market, with Sensex crashing over 1,400 points on Friday, 6th March, as the market opened.

Source: Financial Express

Crash in the US stocks overnight has affected investors around the globe. The Indian rupee also tumbled to 73.90, its lowest since October 2018.

According to a report by Economic Times, Indian investors lost ₹4.42 lakh crore within 60 seconds into trading. Out of all the sectors, banking stocks suffered the worst hit. Shares of Yes Bank, which is already starved of capital, plunged 25%.

Source: ZeeNews

According to a statement by Edelweiss Securities, India's is getting hit at a time when its immunity is low.

While the first-order impact on India is contained (virus spread, supply chains, limited exports), its second-derivative effect could be greater: particularly given India is already at a low: growth, risk appetite and policy flexibility.

With 30 confirmed cases of COVID-19 in India, the fear of contracting the virus has hit the travel and tourism industry in India also very hard, apart from other sectors.