Indian equity indices opened in red on Tuesday with BSE Sensex plunging 813.90 points to trade at 30,834.80 while the broader Nifty tumbled 251.10 points to 9,010.75.
Markets turned choppy a day after US crude oil futures collapsed to below zero for the first time ever amid the deepening economic turmoil caused by the coronavirus crisis. However, the US oil prices rebounded above zero Tuesday and US benchmark West Texas Intermediate for May delivery changed hands at $1.10 a barrel after closing at -$37.63 in New York, according to news agency AFP.
As on Tuesday morning, the number of coronavirus cases in India rose to 18,601, while the death toll stood at 590, according to latest figures released by health ministry.
Oil-to-retail conglomerate Reliance Industries Ltd was the biggest drag on the indexes, falling as much as 3.5%, reported news agency Reuters. The losses were broad-based, with the Nifty Bank Index plunging 4.2%, its most since April 3.