Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
The BSE Sensex was trading over 700 points down on Wednesday afternoon amid the persistent fears of coronavirus turning into a pandemic, along with increasing confirmed cases in India.
Earlier in the day, Union Health Minister Harsh Vardhan confirmed that India has at least 25 positive cases of COVID-19.
The rate cut by US Federal Reserve announced on Tuesday failed to enthuse the investor sentiments. The decline in the indices is in line with the subdued global trend.
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At 1.43 p.m., the BSE Sensex was trading at 37,879, lower by 744.70 points or 1.93 per cent from the previous close of 38,623.70. It had opened at 38,715.72 and has so far touched an intra-day high of 38,791.70 and a low of 37,846.10.
The Nifty50 on the National Stock Exchange was trading at 11,112.30, lower by 191 points or 1.69 per cent from its previous close.
The major losers on the Sensex so far were Tata Steel, IndusInd Bank, State Bank of India, Bajaj Finance and HDFC Bank. On the other hand Sun Pharmaceuticals, Asian Paints, TCS, PowerGrid and Infosys.
(With input from agencies)
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