The Indian equity markets registered a slump in the first trading session of Financial Year 2020-21 on Wednesday.

Equity benchmark Sensex slumped over 700 points in early trade. Starting the new financial year on a negative note, the 30-share BSE barometer was trading 715 points or 2.43 per cent lower at 28,754.

While, the NSE Nifty fell 199 points, or 2.31 per cent, to 8,399.

In the previous session, the Sensex closed the financial year 2019-20 higher by 1,028 points or 3.62 per cent at 29,468. The Nifty rose 317 points, or 3.82 per cent, to close at 8,598.

However, during the fiscal, the Sensex plunged 9,204 points or 23.80 per cent, while the Nifty sank 3,026 points or 26.03 per cent.

Domestic forex markets are closed today for the annual closing of banks.

Domestic equity as well as commodity markets, however, will operate normally.