The S&P BSE Sensex and NSE Nifty 50 indexes erased intraday gains in the last hour of trade as markets were on track to register seventh day of losses. Earlier in the day, the Sensex rose as much as 786 points and the Nifty 50 index touched an intraday high of 11,433. However, Sensex fell over 1,250 points from the day's highest level and Nifty touched an intraday low of 11,070. In the last six sessions, the equity markets witnessed a massive selloff in which Sensex lost 7.32 per cent and the NSE Nifty 50 index nosedived 7.62 per cent on fears of the fast-spreading coronavirus hampering the global economic growth.
As of 3:14 pm, the Sensex was down 492 points 37,785 and the NSE Nifty nosedived 131 points or 1.2 per cent to 11,070.
Markets turned highly volatile in the last 30 minutes of trade as the India VIX index, the gauge of volatility spiked 10 per cent.
