Indian shares opened with sharp cuts for the third session this week on Friday, following sell-off in global markets as alarm over the coronavirus intensified.

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The Sensex plunged over 3,000 points, while the Nifty50 index hit the lower circuit, down 10 percent. Trading in the Nifty was halted for 45 minutes after hitting the lower circuit.

At 9:25 am, the BSE Sensex was down 3,090 points lower at 29,687, while the NSE Nifty was down 966 points lower at 8,624.

The broader markets also continued declining with the Nifty Midcap and Nifty Smallcap indices down 8 percent and 10 percent, respectively.

All index stocks were also trading with cuts with BPCL, Adani Ports, GAIL India, ONGC, and Maruti leading the decline.

Sectoral indices were also painted in the red with Nifty IT down the most, 13 percent. Nifty Bank, Nifty Auto, Nifty Metal, and Nifty Media lost around 11 percent each in early deals.

Menawhile, global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide. Half a trillion dollars in liquidity from the US Federal Reserve and the promise of more were not enough to calm the fear that has wiped some $14 trillion from world stocks in a month.