Indian stocks take breather from coronavirus-fueled selloff

Indian stocks take breather from coronavirus-fueled selloff

Indian shares followed global equities higher on Friday after four sessions of bruising losses, as policymakers across the world launched fresh efforts to stem the economic fallout of the coronavirus pandemic.. World stocks recovered overnight from steep falls after central banks in Europe, Japan, Australia and the United States launched a fresh wave of stimulus to help businesses battered by a near halt in economic activity due to the virus outbreak.. India's NSE Nifty 50 index, which fell as much as 1 per cent earlier on Friday, was up 1.49 per cent at 8,386.10 by 0600 GMT, while the S&P BSE Sensex was 1.52 per cent to 28,717.22.". It is difficult to say if markets will sustain this momentum.". The virus, which originated in China, has spread quickly around the globe, claiming more than 10,000 lives and hammering economic activity.. The carnage in financial markets has taken India's blue-chip Nifty 50 index 33�per cent below its Jan. 20 record intraday high, while India's small-cap and mid-cap shares have fared no better, falling roughly 29 per cent since the start of 2020.The pandemic also threatens to chip away at India's economic growth, already languishing at multi-year lows, as it forces more