Indices recoup half of losses

THE EQUITY BENCHMARKS fell up to 1% intra-day as investors took money off the table amid fears of a major conflict between India and Pakistan.

- KISHOR KADAM

However, the indices recouped half of their losses to close down marginally over 0.5%. The market volatility, as measured by the VIX, surged 10.21% to 21.01—the sharpest rise in a month.

After opening on a positive note, the Sensex traded nearly flat during the first half of the session, but later succumbed to selling pressure. It slumped over 940 points (1.16%) from the day's high to hit an intraday low of 79,987.61. After recovering some losses, it closed at 80,334.81, down 411.97 points, or 0.51%. The Nifty closed lower by 140.60 points, or 0.58%, at 24273.80.