Nifty traded strong for the day after the gap down opening and in the  afternoon session it witnessed some profit booking as well. Nifty closed 84 points higher above the closing level of last trading session at 18,398 level. S&P BSE Sensex also lost gains from the day’s high and managed to close 297 points higher at 62,345 level. Nifty Midcap 100 and Nifty Small cap 100 closed stronger, 0.75 per cent and 0.5 per cent respectively. 

Panic selloff has been seen across all sectors, with major losses led by banking and auto stocks in the afternoon session.