Equity benchmark indices witnessed a sharp decline on Wednesday due to surge in the coronavirus numbers in India and weak auto sales numbers. Also, weak global cues combined with continuous outflow of the foreign fund was weighing on the sentiments.
The Nifty index settled around 8,264 levels, down by nearly 4%. We had a similar trend on the sectoral front too wherein IT, Banking and financial services were hit badly.
The Sensex closed down 1,203.18 points or 4.08% at 28,265.31 and the Nifty tumbled 343.95 points or 4% at 8,253.80.
All sectoral indices ended lower, the Nifty IT index fell 5.5%, the FMCG and Media index fell over 3%, while other sectors fell in the range of 1-2%. However, market breadth remained in favour of the advances, as 937 stocks ended the day with gains, while 822 posted declines.