NEW DELHI: Equity indices on Wednesday finished in red with the benchmark BSE sensex falling over 300 points dragged by bank and auto stocks.
The 30-share BSE index plunged 310 points or 1.01 per cent to 30,380; while the broader NSE Nifty settled 69 points or 0.76 per cent lower at 8,925.
Top losers in the BSE pack included Kotak Bank, Hero MotoCorp, Bajaj Finance, Maruti, HDFC twin and M&M with their shares down as much as 5.61 per cent.
On NSE, sub-indices Nifty Financial Services and Private Bank fell as much as 2.75 per cent.
On the global front, Asian shares paused at one-month highs as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.
The International Monetary Fund (IMF) predicted that the world this year would suffer its steepest downturn since the Great Depression of the 1930s.
“Flattening infection curves and the thoughts of more stimulus have lifted all boats,” Stephen Innes, chief global market strategist at AxiCorp, told news agency Reuters.
“However, appearances can be deceiving as behind the headlines lie the most gnarly storm clouds building, suggesting there is still much to be worried about.”
In India, Prime Minister Narendra extended the nationwide lockdown till May 3 while adding that relaxations might be considered in some non-hotspots after April 20. Meanwhile, total cases of the coronavirus in India have risen over 11,000 with 377 deaths so far, according to the health ministry.
Meanwhile, the rupee pared early gains and settled for the day 17 paise lower at an all-time low of 76.44 (provisional) against the US dollar, tracking weak domestic equities and strengthening of the American currency overseas.
Sensex had closed 470 points or 1.51 per cent lower at 30,690 on Monday, while Nifty ended 118 points or 1.30 per cent down at 8,994. The domestic indices were closed on Tuesday on account of 'Ambedkar Jayanti'.
(With agency inputs)
In Video:Sensex picks up after MHA guidelines on lockdown
The 30-share BSE index plunged 310 points or 1.01 per cent to 30,380; while the broader NSE Nifty settled 69 points or 0.76 per cent lower at 8,925.
Top losers in the BSE pack included Kotak Bank, Hero MotoCorp, Bajaj Finance, Maruti, HDFC twin and M&M with their shares down as much as 5.61 per cent.
On NSE, sub-indices Nifty Financial Services and Private Bank fell as much as 2.75 per cent.
On the global front, Asian shares paused at one-month highs as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.
The International Monetary Fund (IMF) predicted that the world this year would suffer its steepest downturn since the Great Depression of the 1930s.
“Flattening infection curves and the thoughts of more stimulus have lifted all boats,” Stephen Innes, chief global market strategist at AxiCorp, told news agency Reuters.
“However, appearances can be deceiving as behind the headlines lie the most gnarly storm clouds building, suggesting there is still much to be worried about.”
In India, Prime Minister Narendra extended the nationwide lockdown till May 3 while adding that relaxations might be considered in some non-hotspots after April 20. Meanwhile, total cases of the coronavirus in India have risen over 11,000 with 377 deaths so far, according to the health ministry.
Meanwhile, the rupee pared early gains and settled for the day 17 paise lower at an all-time low of 76.44 (provisional) against the US dollar, tracking weak domestic equities and strengthening of the American currency overseas.
Sensex had closed 470 points or 1.51 per cent lower at 30,690 on Monday, while Nifty ended 118 points or 1.30 per cent down at 8,994. The domestic indices were closed on Tuesday on account of 'Ambedkar Jayanti'.
(With agency inputs)
In Video:Sensex picks up after MHA guidelines on lockdown
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