Equity benchmark Sensex plunged over 1,709 points on Wednesday, 18 March, as talks of stimulus measures to cushion the economic blow of the COVID-19 pandemic failed to cheer markets across the globe.
The BSE barometer swung over 2,488.72 points in a highly volatile session, before ending 1,709.58 points or 5.59 percent lower at 28,869.51.
Similarly, the broader NSE Nifty settled 498.25 points, or 5.56 percent, down at 8,468.80.
IndusInd Bank was the top loser in the Sensex pack, plummeting over 23 percent. PowerGrid, Kotak Bank, Bajaj Finance, HDFC Bank and NTPC also finished significantly lower.
Earlier, during the mid-session, the Sensex slumped by as much as 1,211 points to 29,367 just after noon, while the Nifty hovered above the 8,600-mark, as markets reversed the gains of the opening trade.
The performance comes amid concerns worldwide over the coronavirus outbreak.
Tracking positive overnight cues from Wall Street, Indian equity markets had staged a rebound in early trading on Wednesday, with Sensex jumping 522 points to 31,101 in the opening session and Nifty rising 150 points to 9,117.
Meanwhile, the Indian currency had opened stronger for the the second straight day, tracking gains in Asian peers. The rupee opened at 73.96, as compared to Tuesday's close of 74.27 against the US dollar.
(With inputs from PTI and BloombergQuint.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)