Covid-19 fears continue to spook the Indian equities market which opened with losses on Wednesday. The benchmark 30-share index of the Bombay Stock Exchange tanked 715 points to trade at around 28,750.
The National Stock Exchange’s broad based 50-share index shed 207 points to trade at around 8,390.
India's banks remained big losers on Wednesday, with large names such as that of State Bank of India, the nation's biggest public sector lender, and Kotak Mahindra Bank tanking in early trading.
Market analysts believe that the fall is mainly due to uncertainties related to the COVID-19 pandemic and its impact on the economy. The research agency Nomura, for example, believes that the market volatility will continue.