Sensex closes below 29000 level, crashes 1710 points
Sensex
Domestic stock market skidded over 6% in the waning moments of trading on Wednesday, with financial stocks suffering the most, as fears of the economic damage from the coronavirus pandemic eclipsed sweeping stimulus moves from policymakers around the world.
The BSE S&P Sensex closed 1,710 points or 5.59 per cent lower at 28,870 while the Nifty 50 fell by 498 points or 5.56 per cent to 8,469.
The sell-off on Dalal Street continued during the trading sessions as traders worried over rising coronavirus cases and tough stance by the Supreme Court on AGR dues of telecom operators.
Banking stocks were the most hit as they have huge exposure to telecom firms. Worries of greater disruptions in businesses rose due to a rising number of new coronavirus cases within and outside India.
Meanwhile, Yes Bank to resume operations from 19 March; customers will be able to access all digital services, platforms. Yes Bank will resume operations from Friday, according to news reports.
Rupee reverses early gains to settle marginally down at 74.26 (provisional) against US dollar.
(With inputs from agencies)
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