Sensex tanks 1,203 points, Nifty crashes below 8,300 as coronavirus lockdown continues to rattle markets

Equity benchmark Sensex plunged over 1,203 points on Wednesday as global selloff continues amid uncertainty over coronavirus pandemic and the lockdown imposed by various governments. 

In the previous session, the Sensex closed the financial year 2019-20 higher by 1,028.17 points or 3.62% at 29,468.49. The Nifty gained 316.65 points, or 3.82%, to end the financial year at 8,597.75.

On the first day of the new financial year, the 30-share BSE barometer plummeted 1,203.18 points or (4.08%) to close at 28,265.31.

Broader NSE Nifty tanked 343.95 points, or 4%, to close at 8,253.80.

On BSE, the losers were led by Tech Mahindra which crashing over 9%, followed by Kotak Bank, Axis Bank, TCS, Infosys and HUL.

Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan were the gainers.

Bourses in Asian markets of Hong Kong, Tokyo, Seoul and Shanghai also plunged up to 4%. Markets in Europe were also trading in the red.

This came as the global equity markets go through an uncertainty amid a rising number of COVID-19 cases and a dramatic rise in the death toll. 

The total number of infected cases on Wednesday surged past 8.7 lakh, while the global death toll has crossed 43,000.

The number of COVID-19 cases climbed to 1,637 in India, while the death toll rose to 38, according to the Union Ministry of Health and Family Welfare.