Markets in freefall: Sensex tanks 1,709 pts to end below 29K

Mumbai: The Sensex crashed below the 29,000-level while the Nifty dived almost 500 points on Wednesday as the Coronavirus pandemic maintained its death grip on markets across the globe. S&P lowering India's growth forecast and the Supreme Court's refusal to provide relief to telecom firms on the AGR issue further sapped risk appetite, traders said.

After swinging over 2,488.72 points in a highly volatile session, the 30-share BSE Sensex closed 1,709.58 points or 5.59 per cent lower at 28,869.51.

The Sensex has closed below the 29,000-mark for the first time since January 2017. On similar lines, the broader NSE Nifty plummeted 498.25 points, or 5.56 per cent, to end at 8,468.80.