The domestic stock markets have trimmed their losses this afternoon, although they are still headed for the fifth successive session of losses, due to recovery in select Asian markets.
The benchmark indices are trading at their lowest levels in four months as the spiraling cases of coronavirus across continents continues to unnerve investors and spark concerns of its cascading effect on the global economy.
At 3:00 pm, the S&P BSE Sensex was quoting at 39,760, lower by 130 points or 0.3 per cent and the NSE Nifty was at 11,631, down 46 points or 0.3 per cent.
The BSE benchmark had fallen as much as 465.69 points to hit 39,423.27 and the broader NSE Nifty benchmark had dropped to as low as 11,536.70, down 141.8 points in morning deals to make the lowest intraday levels in the Sensex and Nifty since October 29 and October 25 respectively. The broader markets was also trading lower, the BSE Midcap index was at 15074, lower by 96 points or 0.6 per cent and the BSE Smallcap index was at 14222, down 106 points or 0.7 per cent. A selloff in metal and energy sectors is pulling the markets lower.
In Asia, the SET Composite had jumped by more than 2 per cent, post its 5-per cent fall in the previous session. The Hang Seng and Shanghai were trading with gains of around half a per cent each. The Nikkei, Taiwan, Jakarta and Kospi indices are however trading lower between 1-2 per cent each.
ONGC, SBI and ICICI Bank were the significant losers on the BSE, shedding between 1-2 per cent each on the BSE.
On the other hand, Kotak Bank, Maruti Suzuki and Hindustan Unilever were trading with gains of around 1 per cent each, on the BSE.