The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 23,770 level, a discount of nearly 25 points from the Nifty futures’ previous close.

Adani Ports, Asian Paints, IndusInd Bank and Reliance Industries gained 1.3-1.6 per cent. Tata Motors Ltd, ICICI Bank Ltd, Power Grid, Tata Steel and UltraTech Cement also gained over 1 per cent each.

The Sensex tumbled 1,258 points to close at 77,965, while the Nifty slumped 389 points to settle at 23,616, breaching key technical levels, including the 20-day and 50-day moving averages.

On January 7, the Indian stock market benchmarks, Sensex and Nifty 50, gained over half a per cent in intraday trade even as HMPV virus fears persist.

HDFC Bank Ltd shares were down 1.56 per cent at Rs 1,722 after the Q3 update. December was the third consequent quarter of sequential corporate loan decline as the banks continued to choose profitability over balance sheet growth.

The stock market ended trading on Tuesday in green, managing to recover some of the losses taken in the last trading session. The key equity benchmarks, Sensex and Nifty, closed the session higher. The BSE Sensex settled for the day more than 200 points higher at 78,

Sensex and Nifty 50 fell over a percent each amid heavy selling across the board. Broader markets also reeled under selling pressure as the Nifty Midcap 100 and the Nifty Smallcap 100 indices declined over 27% each.

Sensex and Nifty fell over 1.6%, but select stocks gained despite the selloff. ITI Ltd surged 20%, healthcare stocks rallied on virus-related news, and Titan rose 2.3% on strong Q3 growth. ICICI Bank provided benchmark support.

The Nifty 50 concluded the session with a gain of 0.39% at 23,707, while the Sensex wrapped up the session at 78,199, 0.30% higher than the previous close.

The Sensex and Nifty plumetted due to a market crash during the morning trading session as banking and metal stocks fell