MARKET WRAP: Indices off day's low, Sensex ends 161 pts lower; Infy up 1%

After falling over 440 points during the day, the S&P BSE Sensex witnessed sharp recovery in the last hour of the trade to end Tuesday's session at 40,894 levels, down 161 points or 0.39 per cent. IndusInd Bank (down 3 per cent) emerged as the biggest loser on the index while SBI (up over 1 per cent) ended as the top gainer.

On the NSE, the broader Nifty50 index ended below the crucial 12,000-mark at 11,992.50, down 53 points or 0.44 per cent. 

Telecom stocks remained under pressure due to adjusted gross revenue (AGR) issue. Bharti Infratel tumbled 11 per cent to Rs 210 while Bharti Airtel ended nearly 3 per cent lower. Vodafone Idea ended over 11 per cent lower at Rs 3.03 apiece on the BSE. 

In the broader market, the S&P BSE MidCap index fell 0.6 per cent to 15,425.51 levels while the S&P BSE SmallCap ended at 14,467.43, down 65 points or 0.45 per cent. 

GLOBAL MARKETS

World stocks markets were knocked off record highs on Tuesday as two of the world’s mega companies reported damage from the coronavirus outbreak. Apple’s stock fell almost 6% in Frankfurt and all Europe’s main markets fell after the iPhone maker warned it was unlikely to meet the March quarter sales guidance it had set just three weeks ago.

S&P 500 e-mini futures ESc1 slipped 0.4 per cent and Nasdaq futures fell 0.6 per cent.

In commodities, oil prices slipped on Tuesday on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets.

(With inputs from Reuters)