<p>Equity benchmark Sensex jumped over 600 points in opening session on Wednesday after the government took drastic measures to combat COVID-19 outbreak with Prime Minister Narendra Modi announcing a complete lockdown of the country for 21 days.</p>.<p>Asian peers were also trading higher as authorities world over stepped up efforts to fight the pandemic.</p>.<p>However, concerns over the impact of worldwide lockdowns kept investors on edge, traders said.</p>.<p>After rallying 625.41 points, the BSE barometer gave up all gains to trade 157.91 points or 0.59 per cent lower at 26,516.12.</p>.<p>Similarly, the NSE Nifty was trading 30.30 points, or 0.39 per cent, down at 7,770.75.</p>.<p>Reliance Industries was the top gainer in the Sensex pack, rallying up to 7 per cent, followed by Nestle India, Tech Mahindra, HDFC, PowerGrid and HUL. On the other hand, IndusInd Bank, ITC, L&T and ICICI Bank were the top losers.</p>.<p><a href="www.deccanherald.com/business/business-news/markets-live-updates-volatility-erases-indices-early-gains-amid-lockdown-fears-817403.html"><strong>For latest updates on Indian Markets, click here</strong></a></p>.<p>In the previous session, the BSE benchmark closed 692.79 points or 2.67 per cent higher at 26,674.03, after a highly volatile trading session. Likewise, the NSE barometer settled 190.80 points, or 2.51 per cent, up at 7,801.05.</p>.<p>According to traders, investors are weighing the economic impact of the 21-day lockdown announced last night. In an unprecedented drastic measure to curb the spread of coronavirus, Modi said the lockdown will be in force from Tuesday midnight, as he announced a central allocation of Rs 15,000 crore to strengthen the health infrastructure to tackle the disease.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-live-updates-tibetan-refugee-dies-in-himachal-pradesh-indias-death-toll-rises-to-9-799686.html"><strong>For latest updates on coronavirus outbreak, click here</strong></a></p>.<p>According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, enforcement of the 21-day lockdown of the nation will be a major challenge. Ensuring supplies to all households is not going to be easy, but has to be done. The temporary shock to the economy will be huge.</p>.<p>Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 5 per cent.</p>.<p>Stocks on Wall Street rallied up to 11 per cent in overnight trade.</p>.<p>Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.</p>.<p>On a net basis, foreign institutional investors sold equities worth Rs 2,153.35 crore on Tuesday, data available with stock exchanges showed.</p>.<p>Global oil benchmark, Brent crude futures rose 2.43 per cent to USD 27.81 per barrel.</p>.<p>The total number of active COVID-19 cases in India stood at 512 on Wednesday morning, as per health ministry log.</p>.<p>The number of global COVID-19 infections has shot past 4,20,000. Worldwide fatalities have topped 18,000.</p>
<p>Equity benchmark Sensex jumped over 600 points in opening session on Wednesday after the government took drastic measures to combat COVID-19 outbreak with Prime Minister Narendra Modi announcing a complete lockdown of the country for 21 days.</p>.<p>Asian peers were also trading higher as authorities world over stepped up efforts to fight the pandemic.</p>.<p>However, concerns over the impact of worldwide lockdowns kept investors on edge, traders said.</p>.<p>After rallying 625.41 points, the BSE barometer gave up all gains to trade 157.91 points or 0.59 per cent lower at 26,516.12.</p>.<p>Similarly, the NSE Nifty was trading 30.30 points, or 0.39 per cent, down at 7,770.75.</p>.<p>Reliance Industries was the top gainer in the Sensex pack, rallying up to 7 per cent, followed by Nestle India, Tech Mahindra, HDFC, PowerGrid and HUL. On the other hand, IndusInd Bank, ITC, L&T and ICICI Bank were the top losers.</p>.<p><a href="www.deccanherald.com/business/business-news/markets-live-updates-volatility-erases-indices-early-gains-amid-lockdown-fears-817403.html"><strong>For latest updates on Indian Markets, click here</strong></a></p>.<p>In the previous session, the BSE benchmark closed 692.79 points or 2.67 per cent higher at 26,674.03, after a highly volatile trading session. Likewise, the NSE barometer settled 190.80 points, or 2.51 per cent, up at 7,801.05.</p>.<p>According to traders, investors are weighing the economic impact of the 21-day lockdown announced last night. In an unprecedented drastic measure to curb the spread of coronavirus, Modi said the lockdown will be in force from Tuesday midnight, as he announced a central allocation of Rs 15,000 crore to strengthen the health infrastructure to tackle the disease.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-live-updates-tibetan-refugee-dies-in-himachal-pradesh-indias-death-toll-rises-to-9-799686.html"><strong>For latest updates on coronavirus outbreak, click here</strong></a></p>.<p>According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, enforcement of the 21-day lockdown of the nation will be a major challenge. Ensuring supplies to all households is not going to be easy, but has to be done. The temporary shock to the economy will be huge.</p>.<p>Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 5 per cent.</p>.<p>Stocks on Wall Street rallied up to 11 per cent in overnight trade.</p>.<p>Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.</p>.<p>On a net basis, foreign institutional investors sold equities worth Rs 2,153.35 crore on Tuesday, data available with stock exchanges showed.</p>.<p>Global oil benchmark, Brent crude futures rose 2.43 per cent to USD 27.81 per barrel.</p>.<p>The total number of active COVID-19 cases in India stood at 512 on Wednesday morning, as per health ministry log.</p>.<p>The number of global COVID-19 infections has shot past 4,20,000. Worldwide fatalities have topped 18,000.</p>