New Delhi | Jagran Business Desk: The market benchmark Sensex on Wednesday nosedived over 1200 points, while Nifty lost more than 300 points as coronavirus pandemic cases continued to soar.
At close, the BSE barometer ended 1,203 points lower at 28,265, while broader index Nifty shed 343 points to 8,253.
Top loser in the Sensex pack included Tech Mahindra crashing over 9 per cent, followed by Kotak Bank, Axis Bank, TCS, Infosys and HUL.
On the flip side, Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan were the gainers.
According to traders, domestic equities plunged in tandem with global stocks as no respite from the coronavirus pandemic seemed in sight.
Extensive lockdowns to contain the spread of the virus have severely hit business outlook, they said.
The number of COVID-19 infections around the world surged past 8,60,000, while worldwide deaths crossed 42,000.
According to the Health Ministry, the number of novel coronavirus cases climbed to 1,637, while the death toll rose to 38 in India.
"For the month of April, macro risk appetite driven by news flow around potential peaking of fresh COVID-19 cases would be the key driving force for foreign flows," PTI quoted S Hariharan, Head - Sales Trading, Emkay Global Financial Services as saying.
On the global front, bourses in Tokyo, Shanghai and Hong Kong plunged up to 4 per cent. In Europe, stock markets were also trading with significant losses.
Meanwhile, Brent crude futures plunged 5.20 per cent to USD 24.98 per barrel.
(with PTI inputs)
Posted By: James Kuanal
