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Worst week for Indian shares since 2009 as pandemic fears grow

Global share markets were also sharply lower on Friday, marking their worst week since the 2008 global financial crisis and bringing the wipeout in value terms to $5 trillion.

February 28, 2020 / 09:53 PM IST

Indian shares sank on Friday for a sixth straight session, capping their worst week in more than a decade, over fears that the fast-spreading coronavirus outbreak could trigger a global recession.

Asia's third-largest economy is scheduled to release December quarter growth data later in the day that is expected to show a slight improvement, but analysts have already forecast a bumpy March quarter on growing fears of a global pandemic.

The broader NSE Nifty 50 index ended 3.71% lower at 11,219.20 and the benchmark S&P BSE Sensex fell 3.4% to close at 38,383.32.

For the week, the Nifty 50 index shed 7.3%, while the Sensex dropped 6.8%, their worst decline since the 2008-09 financial crisis.