The domestic stock market sharply came off day’s low and ended with modest losses on Wednesday. Shares slumped in the afternoon after India’s Health Minister Harsh Vardhan said that a total of 28 cases of COVID-19 (coronavirus) have been confirmed in India. The media reports of United States conducting an airstrike against Taliban in Nahr-e Saraj of Helmand district also triggered selling. However, as the day was drawing to close, investors resorted to aggressive buying at lower levels helping the bellwether indices recover most of their losses.
Hong Kong-based Bank of East Asia would carry out a comprehensive review of its portfolio of businesses and assets with the support of activist investor Elliott Management. European shares struggled for direction on Wednesday as investors wondered if the European Central Bank and euro zone governments would green light stimulus measures after the U.S. Federal Reserve cut interest rates in an emergency move.
Nifty50 closed lower at 11251 level, -52.30 points, or -0.46 per cent. Nifty Support : 11200 and 11100 Resistance : 11300 and 11370.
