Domestic bourses are expected to start the day in red on Wednesday as investors will track global cues and coronavirus-related newsflow for market direction today. Meanwhile, the number of Covid-19 cases in India jumped to 5,311, with 150 deaths reported. Globally, it has infected more than 1.3 million people and killed over 76,000.

Besides, Icra Ratings yesterday sharply cut India's GDP forecast amid the Covid-19 crisis. The rating agency now expects the economy to grow at just 2 per cent in the current fiscal. It said the nationwide lockdown announced to contain the coronavirus outbreak has impacted industries and their operations have come to a standstill.

On Tuesday, the 30-share benchmark index ended at 30067.21 up by 2476.26 points or by 8.97 % and then NSE Nifty was at 8792.2 up by 708.4 points or by 8.76 %.

On the global front, Wall Street traded firm for majority of the session on Tuesday only for the rally to evaporate in the closing minutes. As such, major US indexes ended the session lower. The S&P 500 lost 0.16 per cent, the Nasdaq Composite dropped 0.33 per cent and Dow Jones Industrial Average fell 0.12 per cent.

After US stock markets closed, President Donald Trump said the United States may be getting to the top of the coronavirus curve. Asian stock markets were mixed on Wednesday. While Hong Kong slipped 0.8 per cent and Australia was down half a per cent, Japan's Nikkei was up 0.5 per cent.

Back home, Top traded Volumes on NSE Nifty – State Bank of India 72133717.00, ICICI Bank Ltd. 57662681.00, Axis Bank Ltd. 48093870.00, NTPC Ltd. 47686689.00, Vedanta Ltd. 45746171.00,

On NSE, total number of shares traded was 21.77 Crore and total turnover stood at Rs. 52438.58 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 691897 with a total turnover of Rs. 35186.95 Crore. Along with this total number of contracts traded in stock futures were 920883 with a total turnover of Rs. 41975.70 Crore. Total numbers of contracts for index options were 13216110 with a total turnover of Rs. 664621.91 Crore. and total numbers of contracts for stock options were 484147 with a total turnover of Rs. 24063.62 Crore.

The FIIs on 07/04/2020 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 7157.31 Crore and gross debt purchased stood at Rs. 560.37 Crore, while the gross equity sold stood at Rs. 9405.51 Crore and gross debt sold stood at Rs. 1780.73 Crore. Therefore, the net investment of equity and debt reported were Rs. -2248.20 Crore and Rs. -1220.36