Mumbai: Equity benchmark Sensex ended over 173 points lower on Wednesday after a highly volatile session as investors remained jittery on concerns over the Covid-19 pandemic.
Plunging over 1,300 points from the day's high, the 30-share BSE barometer ended 173.25 points or 0.58 per cent lower at 29,893.96. It hit an intra-day high of 31,227.97.
Similarly, the NSE Nifty closed 43.45 points, or 0.49 per cent, down at 8,748.75.
Top gainers and losers
TCS was the top loser in the Sensex pack, falling over 3 per cent, followed by Titan, ICICI Bank, SBI, ITC and Bharti Airtel.
On the other hand, Sun Pharma, NTPC, IndusInd Bank and Bajaj Finance were among the top gainers.
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According to Paras Bothra, President of Equity Research, Ashika Stock Broking, volatility in the markets was on account of speculation that the central government was mulling lockdown extension beyond April 14.
Further, traders said Indian markets moved in sync with global benchmarks as worries over the economic impact of the Covid-19 pandemic continued to weigh on investor sentiment.
Global Market
Bourses in Shanghai, Hong Kong, and Seoul ended in the red, while Tokyo closed on a positive note.
Benchmark exchanges Europe were trading around 2 per cent lower in the morning session.
Rupee slides 70 paise to record low of 76.34 against dollar
The rupee plunged by 70 paise to its life-time low of 76.34 against the US dollar as a rise in coronavirus cases in the country fanned fears of the government extending the lockdown to contain the pandemic.
Forex traders said rising Brent crude prices and a firm US currency also weighed on the local unit.
At the interbank foreign exchange, the rupee opened weak at 75.83 and lost further ground to settle at 76.34, registering a fall of 70 paise over its previous close. On Tuesday, the rupee had settled at 75.64 against the US dollar.
The Reserve Bank of India (RBI) has reduced the timing of market hours for call money market, government securities market and currency market from April 7 to April 17 (from 10 am to 2 pm) following the unprecedented situation that has emerged due to the spread of coronavirus.
The dollar index, which gauges the greenback's strength against the basket of six currencies was trading 0.25 per cent up at 100.15.
Foreign institutional investors (FIIs) were net buyers in the capital markets, as they bought shares worth Rs 741.77 crore on Tuesday, according to provisional data.
Brent crude futures, the global oil benchmark, rose 0.06 per cent to USD 31.89 per barrel.
(PTI Report)
