Indian stocks were unable to hold gains on Wednesday as uncertainty prevailed about the government’s decision on lifting the nationwide lockdown that is to end on 14 April.
The uncertainty made investors nervous and the steady increase in covid-19 related cases added to their worries. The benchmark indices, which rose by more than 5% during the day, ended lower in a volatile session.
The BSE Sensex fell 173.25 points, or 0.58%, to 29,893.96, while the National Stock Exchange’s Nifty shed 0.49% to 8,748.75 points.
A decline in other global markets also dented sentiment in India, as hopes of imminent covid-19 recovery faded worldwide. Markets in China, Hong Kong, and Korea fell by as much as 1%.