The Indian equity market is trading off the low point of the day with Nifty recovering around 100 points.
Sensex is down 162.63 points or 0.41 percent at 39726.33, and the Nifty shed 55.30 points at 11623.20.
Coronavirus outbreak is fast developing into a pandemic and that has unnerved investors as the Indian stock market have fallen for the fifth consecutive day.
The pharma index have turned green while all other sectors are trading in the red with the metal, IT and the PSU bank index falling the most.
The top gainers from the pharma space included Sun Pharma which jumped over 3 percent after the company launched RIOMET ER oral suspension in the US. The stock also witnessed spurt in volume by more than 2.71 times. It was followed by Aurobindo Pharma which added a percent.
IT stocks are under pressure, the top losers being Wipro, Tata Elxsi, Mindtree, HCL Tech and Infosys.
Nifty PSU Bank was down over 2 percent dragged by Allahabad Bank and Punjab National Bank which shed over 4 percent each followed by Syndicate Bank, Bank of Baroda, Canara Bank, Indian Bank, Oriental Bank of Commerce and State Bank of India.
NLC India was the top BSE midcap gainer, up over 10 percent after the company decided to pay Rs 7.06 per share interim dividend while on the other hand GMR Infra was the top loser.
India VIX is down 2.14 percent and was trading at 17.87 level.
The top gainers from Nifty are YES Bank, Bharti Infratel, Sun Pharma, Titan Company and Grasim Industries while the top losers included JSW Steel, ONGC, Wipro, Zee Entertainment and Indian Oil Corporation.
The most active stocks included State Bank of India, HDFC Bank, Reliance Industries, Indiabulls Housing Finance and ICICI Bank.
68 stocks hit new 52-week high on BSE including White Organic Retail, Fairchem Speciality, Suven Life Sciences, Aarti Drugs, IOL Chemicals, Neogen Chemicals and Uttam Value Steel among others.
336 stocks hit 52-week low on BSE including Future Consumer, Mahindra CIE Automotive, Gujarat Pipavav, GE T&D India, Finolex Cables, Oil India, Tata Power, NBCC, Engineers India, BHEL, LIC Housing Finance, PNB and Syndicate Bank among others.
About 710 shares have advanced, 1544 shares declined, and 127 shares are unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.