The country?s equity indices plunged further into the red on Wednesday after opening the day on a positive note.
Massive volatility was witnessed throughout the trading session on the back of intense selling pressure coupled with weak cues from global markets. Moreover, mounting fears that the world economy would worsen added to the woes of the markets.
The 30-share Sensex of the Bombay Stock Exchange lost 163.42 points or 1.83% and ended the day at 8,773.78 points. An analyst from a leading broking house said, ?Initially, the markets opened the day with positive gap but weak cues from the European markets and sliding US futures pushed them down.?
The broader Nifty of the National Stock Exchange shed 48.15 points or 1.79% to close the day at 2,635 points. Dealers in the markets said, ?We hope to see an interest rate cut by the Reserve Bank of India and more measures from the government to revive the domestic economy.? They added that low volumes show that investors were avoiding taking large positions on fears that the markets would slip further.
Barring FMCG, Auto and CD indices, all other sectors on the BSE ended the day on negative terrain.