Benchmark indices closed over 2% higher over rise in Asian markets, hoping of US stimulus package. Sensex was up by 835 points at 37,389 while Nifty 50 gained by 245 points at 11,050.

Bloodbath at Dalal Street: The BSE S&P Sensex closed 1,115 points or 2.96 per cent lower at 36,554 while the Nifty 50 tumbled by 326 points or 2.93 per cent at 10,806.

The BSE Sensex tanked nearly 1,100 points in the afternoon trade after Fed officials suggested the US economy was worse than the market was pricing in.

Among stocks, metal major Hindalco cracked by 4.3 per cent to close at Rs 175.85 per share. ICICI Bank and Bajaj Finance dropped by 1.6 per cent each.

The Russian Direct Investment Fund (RDIF) today announced tie-up with Dr. Reddy’s Laboratories to conduct the clinical trials and distribution of Sputnik V vaccine in India.

The development came a day after announcing that US technology investor Silver Lake will invest Rs 7,500 crore in Reliance Retail Ventures.

However, Vodafone Idea spurted nearly 30 per cent to Rs 12.88 per share after reports said the US wireless carrier Verizon and e-commerce giant Amazon may invest over four billion dollars in the beleaguered telco.

The BSE S&P Sensex closed 273 points or 0.71 per cent up at 38,901 while the Nifty 50 gained by 83 points or 0.73 per cent at 11,470.

At the closing bell, the BSE S&P Sensex was down by 839 points or 2.13 per cent at 38,628 while the Nifty 50 lost by 305 points or 2.62 per cent at 11,342.

Chinese blue chips firmed by 0.7 per cent after surveys showed Chinese services jumping a full point to 55.2 in a hopeful sign of reviving consumer demand.