MUMBAI: Despite a 1,000-point rally in the Dow Jones on Tuesday night, the sensex on Wednesday crashed another 1,710 points to close at 28,870 with banking & financial stocks, along with RIL, leading the slide as fears about a coronavirus-induced global recession continued.
On the domestic front, fears about rising bad loans for banks with exposure to the telecom sector also weighed on the index, market players said. And if Wednesday’s early trades on the Wall Street are any indication — with the Dow and S&P500 indices each down over 6% — there could be more pain for Dalal Street on Thursday.
According to Joseph Thomas, head of research, Emkay Wealth Manag
