After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95.
Kotak Bank was the top loser in the Sensex pack, cracking up to 7 per cent, followed by IndusInd Bank, Hero MotoCorp, Asian Paints, Titan, and ICICI Bank. On the other hand, PowerGrid, ONGC, HCL Tech, and Sun Pharma were the gainers.
Investor wealth dropped Rs 3,20,633.05 crore on the first day of the new financial year as selling resumed in the equity market amid rising cases of COVID-19.
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade. The Sensex of the BSE opened at 29,505.33 points and touched a high of 59,505.98. The Sensex touched a low of 29,107.98 point.
Investor wealth dropped by Rs 37.59 lakh crore in 2019-20 fiscal, led by a weak broader market where the BSE benchmark tanked nearly 24 per cent. The 30-share BSE Sensex ended 2019-20 with a loss of 9,204.42 points or 23.80 per cent, while the Nifty sank 3,026.15 points or 26.03 per cent.
The 30-share BSE barometer settled 1,028.17 points or 3.62 per cent higher at 29,468.49. Similarly, the NSE Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75.
On the global front, bourses in Shanghai were trading on a positive note after China's manufacturing sector steadily resumed production after the COVID-19 shutdown, with 98.6 per cent of the major industrial firms nationwide having restarted work.
After plunging over 1,500 points during the day, the 30-share BSE barometer ended 1,375.27 points or 4.61 per cent lower at 28,440.32.
On the global front, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading significantly lower. Meanwhile, the Indian rupee depreciated 28 paise to 75.18 against the US dollar in morning trade. Brent crude futures, the global oil benchmark, fell 4.44 per cent to USD 26.71 per barrel.
Market benchmark BSE Sensex closed lower by 131 points or 0.44 per cent in volatile trade on Friday, cutting short its three-day winning run due to deepening growth concerns and a less-than-expected moratorium on loans announced by the RBI in its monetary policy.
Finance Minister’s package did not address to the needs of the corporate sector, analysts said, adding that this would, perhaps, be followed by monetary stimulus by RBI along with forbearance on loan repayments.
The 30-share BSE barometer rallied 1,410.99 points or 4.94 per cent to settle at 29,946.77. It surged over 1,564 points during the session.
Equity benchmark Sensex was trading over 1,000 points higher in afternoon session on Wednesday after Finance Minister Nirmala Sitharaman announced a stimulus package worth Rs 1.70 lakh crore to cushion the impact of the lockdown in wake of COVID-19 pandemic.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold equity shares worth Rs 1,893.36 crore on Wednesday, according to provisional exchange data. Brent crude futures, the global oil benchmark, fell 0.51 per cent to USD 27.25 per barrel.
Equity benchmark Sensex rallied over 1,600 points in afternoon session on Wednesday led by gains in index heavyweights Reliance Industries, HDFC twins, ICICI Bank and Kotak Bank as government took drastic measures to combat Covid-19 outbreak.
European as well as Wall Street indices reversed from losses as investors banked on hopes of economic stimulus from policymakers. Sensex traded 500 points higher to trade at 27,299, and Nifty gained 130 points higher to 7,970-mark.
India's key stock markets –- the NSE and the BSE -- will remain functional despite the 21-day nationwide lockdown announced by Prime Minister Narendra Modi with effect from Tuesday midnight to contain the spread of coronavirus (COVID-19).
After gyrating 1,823.97 points, the BSE barometer gave up some gains to end 692.79 points or 2.67 per cent higher at 26,674.03.
Analysts say volatility cannot be ruled out for the time being as investors assess the policy decisions announced by authorities around the globe to fight the rapid spread of the coronavirus (COVID-19) pandemic.