• Trades at the lowest level since December 2016
• Fell as much as 8.4 percent to Rs 381.05
• Down for the third day in a row
• Down in 9 out of the last 11 trading sessions
• Has declined 14 percent in the last 11 sessions
• Has advanced only in 5 out of the last 20 trading sessions
• Declined over 17 percent in the last 20 sessions
• Today's volumes are 2.7 times higher than its 30-day average
• The stock has entered oversold territory with Relative Strength Index (RSI) at 29
• Has declined 53 percent from its 52-week high of Rs 816.9 on February 7, 2020
• All 4 analysts tracking the stock have a buy recommendation
• Return potential for the stock as per Bloomberg data is 110.8 percent

Gold rose to its highest level in more than seven years after the U.S. Federal Reserve Chair Jerome Powell said that stocks and asset prices could suffer a significant hit from the Coronavirus, Bloomberg reports.

The yellow metal has surged 16 percent this year. What is adding to the speculation is that U.S. interest rates can go negative while holdings in the Gold-ETFs are at a record high.

Spot Gold is currently trading 1.1 percent higher at $1,762/Oz.

Among other precious metals, Palladium gained as much as 8.3 percent, the most in nearly two months while Silver gained 4 percent.

• Benchmark indices trade near the day's low
• Nifty down 2.9 percent at 8,871
• Nifty futures trade at a discount of 8 points
• Sensex down 3 percent at 30,176
• Nifty Bank down 6.4 percent at 17,631
• Nifty Midcap Index down 3.6 percent
• Nifty Smallcap Index down 3.1 percent
• India Volatility Index up 7.4 percent to 40.83
• Nifty I.T. emerges as the only sectoral gainer; up 0.7 percent
• Nifty Auto, Nifty Media, Nifty Realty index fall over 4 percent each
• Nifty PSU Banking index down 5.5 percent
• Cipla remains the top Nifty gainer; up 3.1 percent
• 7 out of the 50 Nifty constituents are trading with gains
• IndusInd Bank remains the top Nifty laggard; down 8.2 percent
• 1,409 stocks on the NSE trade with losses while 341 are gaining

13.38 lakh shares of the company exchanged hands in a single large trade on the National Stock Exchange. The deal was carried out at Rs 27.40 per share, as per Bloomberg data.

Buyers and seller of the trade were not immediately known.

Shares traded 6 percent lower at Rs 27.60, after falling as much as 7.5 percent in early trade.