"Given the uncertainty to economic outlook from the second wave of COVID-19 cases, US presidential elections and US stimulus package, investors are shunning risky assets. Commodities and equities have sold off," Abhishek Goenka, Founder and CEO, IFA Global.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 94.41.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 510.46 points lower at 37,157.96 and broader NSE Nifty plunged 155.45 points to 10,976.40.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 3,912.44 crore on Wednesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, fell 1.01 per cent to USD 41.35 per barrel.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.