Indian markets continued their downward slump for the fourth day on Thursday, predominantly brought on by coronavirus concerns.
The BSE Sensex ended 581 points lower in a highly volatile session. It oscillated in a broad range of 2,656 points between an intraday low of 26,714.46 in the first half of the session and high of 29,370.53 in late-afternoon deals. The National Stock Exchange Nifty 50 settled 205.35 points, or 2.42%, down at 8,263.45, after dropping below the 7,900 level intra-day. Earlier in the day, Nifty hovered around 7,900 for the first time since December 2016, according to Moneycontrol.
The biggest losers on Sensex included Bajaj Finance, which tanked over 10%, followed by Axis Bank, Maruti, Mahindra and Mahindra Limited, Tech Mahindra and ONGC. On the Nifty 50, Bharti Infratel, Coal India, Zee Entertainment, Yes Bank, and Maruti Suzuki suffered losses.
Bajaj Auto, Hero MotoCorp, ITC, Bharti Airtel, and Power Grid Corporation Limited are among the biggest gainers on Sensex in the afternoon trade. The stocks that recovered losses on the Nifty are Bajaj Auto, Bharti Airtel, ITC, Hero MotoCorp, and Power Grid Corporation.
The rupee plummeted 81 paise to 75.07 against the US dollar during the day.