Benchmark indices erase Tuesday gain; ends 4 per cent down

The equity benchmarks continued the volatile trend amid weak global cues to end with losses of nearly four per cent each on Wednesday. This is the second intraday loss in the past three trading sessions this week.

Sensex closed the session 4.1 per cent lower at 28,265 while, Nifty closed four per cent lower at 8,253.80. The broader indices represented by BSE Mid-cap and Small-cap closed with losses of 2.18 per cent on 10,340 and 1.06 per cent at 9,507 respectively.

The index heavyweights TCS, Kotak Mahindra Bank, SBI, HUL closed with losses of up to eight per cent to five per cent intraday. The auto major HeroMoto stood as the top gainer to report gains of 2.21 per cent from Tuesday closing. Among gainers from mid-cap space, stocks such as Suprajit Engineering and GM Breweries were able to close higher by 11 per cent and 8 per cent, respectively.

At the close of trading session in the domestic markets, European markets also showed weak trend. US futures were trading down by more than two per cent as on 3.30 pm IST.

Rising number of Coronavirus cases weighed high on the markets. Though, the government has thrashed any plans of extending the current lockdown, which is ending on April 15; rise in the number of affected people can push the lockdown further.