Banking, finance and IT counters accounted for most of the losses, while strong demand for metal stocks cushioned the fall
A recovering rupee added to the buying momentum, traders said
Lockdowns and low interest rates have taken a toll on global financial stocks
The benchmark S&P BSE Sensex tumbled over 1,069 points or 3.44 per cent but managed to close above the crucial 30,000-mark at 30,028.98 levels
Nifty Financial Services, Nifty Bank and Nifty Private Bank indices were down 2.7 per cent each, as compared to 1.5 per cent decline in the Nifty 50 index
Reliance Capital, DHFL, IDFC, Equitas Holdings, Can Fin Home Finance, M&M Financial Services and Ujjivan Financial Services were down in the range of 5% to 7% on the BSE.