The most active stocks included State Bank of India, Indiabulls Housing Finance, Reliance Industries, Tata Motors, and HDFC Bank.

The Indian equity the market witnessed a rebound in trade on March 3 after seven straight sessions of losses, lifted by expectations that major central banks would take measures to mitigate the economic impact of the coronavirus outbreak.

The market is trading at the low point of the day with Sensex up 165.96 points or 0.44% at 38309.98, and the Nifty added 66.70 points at 11199.50.

Metal stocks witnessed some handsome gains with the index up over 2%. The top gainers included Vedanta and Hindalco Industries which jumped 3-4% followed by Jindal Steel & Power, Coal India, JSW Steel, Tata Steel, and MOIL.

The pharma index also added over 2% led by Sun Pharma which jumped over 3% after global research firm Morgan Stanley retained its overweight stance on the stock with a target of Rs 530 per share. The other gainers included Piramal Enterprises, Lupin, Cipla and Biocon.

However, banking names including PSU banks are trading in the red. Union Bank of India sheds 2% hitting a new 52-week low of Rs 35 per share. The other losers included J&K Bank, Bank of India, Indian Bank and State Bank of India.

The Rs 10,335 crore public offers of SBI Cards and Payment Services, the country's second-largest credit card issuer company has seen a subscription of over 42% on March 3, the second day of bidding.

The first IPO of the 2020 has received bids for over 4.24 crore equity shares against issue size of more than 10 crore shares (excluding anchor book's portion), as per the data showed by exchanges.

India VIX was up 3.45% and was trading at 26.07 levels.

According to the ICICI direct report, volatility has seen a surge from 10% to 25% already. It is expected to see a cool-off from 30%, which should ideally form the market bottom.

The top gainers included Vedanta, Sun Pharma, Zee Entertainment, Cipla and Eicher Motors while the top losers included Bajaj Auto, Bajaj Finserv, Axis Bank, Asian Paints and ITC.

The most active stocks included State Bank of India, Indiabulls Housing Finance, Reliance Industries, Tata Motors, and HDFC Bank.

31 stocks hit new 52-week high on the BSE including Metropolis Healthcare, Pfizer, Deepak Nitrite and Atul among others.

205 stocks hit fresh 52-week low on the BSE including Union Bank India, Karur Vysya Bank, Bank of India, Kalpataru Power, Dalmia Bharat, CESC, Exide Industries, V-Guard Industries, Elgi Equipments, and Raymond among others.

About 917 shares have advanced, 1020 shares declined, and 119 shares are unchanged.

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