Trading on exchanges to continue amid coronavirus scare as Mumbai stares at shutdown

Trading on stock exchanges will continue even as Mumbai even as Mumbai braces for a shutdown in the wake of Coronavirus outbreak.

Clearing corporations, depositories, stock brokers and Sebi registered participants operating through these institutions will also be exempted from shutdown to facilitate trading on the exchanges, Maharashtra Chief Minister Uddhav Thackeray said in tweet on Friday.

“Stock exchanges, clearing corporations, depositories, stock brokers and Sebi registered participants operating through these institutions will be exempted,” the CM tweeted.

Earlier in the day, Thackeray announced that all workplaces in major cities, including Mumbai and Pune, in the state will remain shut till March 31. However, the government has excluded shops that are selling essential commodities from the restriction.

NSE, BSE, and Securities and Exchange Board of India, among companies related to the market, have headquarters in Mumbai . Besides that several broking houses have their offices in the city.

So far Maharashtra has reported 52 cases, which is the highest among the states. In India, 195 cases have been reported, with 5 deaths.

According to the latest reports, Coronavirus has infected over 2,45,000 people and more than 10,000 deaths were reported across the world.