Mayhem at Dalal Street; Mukesh Ambani loses $5.6 billion; Oil demand to fall in 2020


Catch top stories from the world of business and economy with BusinessToday.In’s end of day report

twitter-logo BusinessToday.In   New Delhi     Last Updated: March 9, 2020  | 22:24 IST

Sensex recorded biggest single-day fall in its history (in absolute terms) on Monday amid rising cases of coronavirus and drastic drop in crude oil prices. Mukesh Ambani’s net worth sustained losses on the back of 31 per cent decline in crude oil prices and weak consumer sentiment due to rising cases of coronavirus around the world. The International Energy Agency (IEA), which releases its oil market forecast from time to time, sees global oil demand at 99.9 million barrels a day in 2020, down around 90,000 barrels a day from 2019. Read for more top stories from the world of business and economy:

1. Sensex, Nifty crash: 5 factors behind mayhem at Dalal Street

Within minutes of opening today, equity benchmarks plummeted over 3.5% each, led by major volatility in global markets

2. Investors lose nearly Rs 7 lakh crore after Sensex, Nifty crash

Market capitalisation on BSE fell to Rs 137.42 lakh crore today compared to Friday’s close of Rs 144.31 lakh crore

3. Mukesh Ambani loses $5.6 billion in a day

Mukesh Ambani posted a $5.6 billion decline in wealth in a day as global markets continued to fall over coronavirus fears and Reliance Industries’ shares took a hit due to recent developments

4. Coronavirus impact: What’s expensive, what’s cheaper in India?

Coronavirus news: Industries such as aviation have taken a hit leading to drop in airfares, while prices of smartphones have increased

5. Coronavirus impact: Oil demand to fall in 2020, first time since 2009

The forecast comes on a day when Brent crude prices have fallen by 30 per cent as Saudi Arabia, world’s largest crude producer, decided to hike production from its oil fields

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