Sensex & Nifty hit 3-year low; selloff continues on street

In the highly volatile trading session on Tuesday, Indian equity benchmark indices Sensex and Nifty ended lower on the second consecutive day of the week. Sensex and Nifty traded between the range of 1,300 points and 488 points during the day.

Sensex and Nifty closed at their lowest levels since March 2017 to settle at 2.58 per cent and 2.51 per cent lower to end at 30,579 and 8,966, respectively. Sensex was topped by HUL, Heromoto and Asian Paints, which ended the session higher by more than three per cent each. The index was dragged mostly by banking heavyweights such as ICICI Bank and IndusInd Bank, which closed lower by nine per cent each. On 50 share gauge, Nifty was topped by Yes Bank, which ended the session with robust gains of 60 per cent intra-day.

The broader indices represented by BSE Mid-cap and Small-cap closed down by 1.84 per cent and 2.20 per cent, respectively. The Mid-cap index was topped by BEL that closed with gains of six per cent while, Future was the top loser to settle down by 10 per cent on Tuesday.

The global markets are witnessing a sharp sell amid the rapid spread of Coronavirus, which could result in the disruption & consumption and can impact the overall global economic growth rate.