The global rout over coronavirus concerns has spread to the Indian indices with benchmarks falling over 2.5 percent during the day and over 6 percent this week. The BSE Sensex fell as much as 1,194 points to 38,551, while, Nifty 50 index declined 363 points to 11,269.80.

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Broader markets also followed the trend, slipping over 3 percent today and 7 percent during the week. In the BSE Midcap index, only 4 stocks gave positive returns for the week, while the remaining were in the red.

NLC India, Max Financial Services, P&G, and Rajesh Exports were the only midcap stocks in the green. However, losers included Adani Transmission, JSPL, Amara Raja Batteries, SAIL, Adani Power, and L&T Financial Holdings down over 15 percent each this week.

Other losers included Adani Enterprises, Bank of India, Bharat Electronics, Sun TV, Union Bank of India, Aditya Birla Capital, Endurance Tech, Indian Bank, among others.

Analysts remained cautious, saying that the unabated spread would result in the global economy growing at the slowest pace in a decade.

READ MORE: Bloodbath at D-Street: Key reasons why Sensex shed 1,200 points today

Morgan Stanley believes that the longer COVID-19 lasts, the larger the impact will be on global growth. In particular, supply chain disruption is the key factor in assessing the impact on global growth.

“Although the mortality rate of coronavirus is much lower than for SARS, its transmissibility makes it much more difficult to prevent it from spreading. Furthermore, the short-term economic damage of the coronavirus is likely to be more profound,” said Credit Suisse in a recent report.

A Reuters tally showed about 10 countries reported their first virus cases in past 24 hours, including Nigeria, the most populous country in Africa and the first case in sub-Saharan Africa.

READ MORE: The fear may cause more economic impact than the virus itself, says Jefferies

According to reports, US state of California is monitoring more than 8,400 people, who arrived on commercial flights for coronavirus symptoms from “points of concern,” but the state lacks test kits and has been held back by federal testing rules, Governor Gavin Newsom said on Thursday.

Global markets were also spooked by the impact on China, the heart of corporate supply chains, and the increasing effect on other countries.