Indian stocks plunge on virus fears after trading halt lifted

People queue to buy grocery items outside a store before the start of the lockdown by West Bengal state government, to limit the spreading of coronavirus disease (COVID-19), in Kolkata, India March 23, 2020. REUTERS/Rupak De Chowdhuri

BENGALURU: Indian shares sank more than 12% by afternoon on Monday as trading resumed after the market's second halt this month, with investors caught in a selling frenzy as the coronavirus spread disrupted businesses and sent several states into lockdown.

The blue-chip NSE Nifty 50 index, which fell to a near four-year low of 7,690.1, was down 11.75% at 7,718.85 by 0700 GMT, while the S&P BSE Sensex fell 11.99% to 26,339.2.