Indian rupee which opened, with sharp gains in Tuesday's session at 72.46 oversus previous close of 72.74 per US dollar, in the afternoon session plunged below levels of 73 against the dollar. The lowest level recorded is 73.08.
There have been 2 new cases reported from India and today the government said, "six cases with high viral load have been detected during sample testing in Agra. These are the ones who have come in contact with the coronavirus patient from New Delhi, reported yesterday. They have been kept in isolation. Their samples are being sent to NIV, Pune for confirmation."
Oil also gained after losing as hopes of central bank coming to rescue financial markets and OPEC cutting production supply by huge levels propped up the commodity.
In the bond market, the yield on benchmark bonds came in at 6.36%.
Trends on the SGX Nifty that posted gains point to Indian indices opening with gains after markets have been on a losing streak for 7-consecutive days amid carnage in global equities.