Indian benchmark indices fell for the fifth consecutive day in a row on Thursday as heavy sell-off continues on fears of coronavirus pandemic amid domestic growth concerns. At 1:20 pm, the Sensex fell 176.27 points or 0.44 percent to 39,712.69 and the Nifty was trading at 11,625.80, down 52.70 points or 0.45 percent.

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Barring Nifty Pharma, all sectors reeled under selling pressure with Nifty PSU Bank, Nifty Realty and Nifty Media falling over 2 percent each.

Concerns over domestic economic growth also dampened sentiment after a report from SBI Ecowrap said that India’s GDP growth will remain flat at over six-year low of 4.5 percent in Q3 of FY19-20.

Meanwhile, market remained volatile ahead of February futures and options (F&O) series monthly expiry.

Wipro, JSW Steel, IndusInd Bank, Indian Oil Corporation and State Bank of India led the decline among Nifty constituents while Yes Bank, Sun Pharmaceutical Industries, Titan Company, Maruti Suzuki and Bharti Infratel were the top gainers.

Shares of state-run RITES fell over 5 percent after the government's offer-for-sale (OFS) for selling up to 10 percent stake in the railway PSU opened on stock exchanges. The scrip plunged 5.67 percent to touch intraday low of Rs 300 apiece on the BSE. The floor price for the OFS has been fixed at Rs 298, which is a discount of 6 percent over Wednesday's closing price of Rs 318.05.

The United States Food and Drug Administration (USFDA) has issued a Form 483 with two observations to Biocon’ Bengaluru API facility. The drug regulator conducted a post-approval and GMP inspection of the company’s small molecules API manufacturing facility in Bengaluru between February 20 and 26, 2020.

Thomas Cook (India) on Wednesday said its board approved buyback of up to 26,086,956 fully paid up shares at a price of Rs 57.50 per share for a maximum aggregate amount of Rs 150 crore.

Globally, stocks sunk deeper into the red on Thursday, oil prices fell and US Treasuries rallied into record territory as more signs of the global spread of the coronavirus heightened fears of a pandemic.

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