A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Reuters)
Indian equity markets clawed off the day’s lows, lifted by public sector banks, but were still trading with three per cent cut on Thursday.
Earlier, the Sensex plunged over 2,000 points to 38-month low levels and the Nifty breached the level of 7,900 for the first time since December 27, 2016. The S&P BSE Sensex, however, pared some of the losses in afternoon trade to hover around 27,930 levels, down 932 points, or 3.15 per cent and the Nifty50 index reclaimed the 8,000 level to trade around 8,200, down 272 points, or 3.22 per cent.
Among individual stocks, Bajaj Finance plunged 13 per cent only to bounce back 10 per cent off the lows, while IndusInd Bank turned green after sliding 12 per cent earlier. The HDFC twins also erased their 7 per cent decline.
Among sectora indices, the Nifty PSU Bank index recovered from the session low to trade 1.1 per cent higher. Nifty Bank index was down 2.6 per cent after earlier sliding over 6 per cent to a fresh 3-year low level.
In the broader market, the S&P BSE MidCap index slid 698 points, or 6.29 per cent, and the S&P BSE SmallCap index dipped 707 points, or 6.95 percent.
Volatility index, India VIX, jumped to a 12-year high and breached 70-mark.
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