Benchmark indices were trading lower, despite strong cues from across the globe. The US Dow Jones saw a stunning 11 per cent rally on Tuesday on hopes of a stimulus package.
Back in Asia, most markets were trading with gains of 3-5 per cent. The Sensex was lower by 132 points, while the Nifty lost 34 points in trade. Shares in Inox Leisure were down 5 per cent, after Crisil placed ratings on the bank facilities at on 'Rating Watch with Negative Implications'
Rallis India too saw the shares fall after the company shut its manufacturing operations at some plants due to the outbreak of coronavirus. The entire auto pack was weak on account of a 21-day lockdown imposed by the central government. Shares in Maruti and Mahindra and Mahindra were both trading lower.
Banking stocks continued to slump lower with Axis Banking losing ground, while IndusInd Bank fell again by almost 2 per cent.
Top losers from the Nifty space were Yes Bank, IndusInd Bank, Mahindra and Mahindra, Larsen and Toubro and ITC.
Reliance, Cipla and Nestle led gainers. Pharma, FMCG and Realty were the best performing sectors in trade today.