The Indian equity indices slumped on Wednesday afternoon with the BSE Sensex trading over 700 points lower, on persistent fears of coronavirus turning into a pandemic, along with increasing confirmed cases in India.
There are at least 25 positive cases of COVID-19 in India at present, the Union Health Minister Harsh Vardhan informed earlier during a press conference here.
The rate cut by US Federal Reserve announced on Tuesday failed to enthuse the investor sentiments. The decline in the indices is in line with the subdued global trend.
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