Markets recoup early losses; Sensex jumps 243 pts, Nifty tops 9,950

M&M was the top gainer in the Sensex pack, rallying around 7 per cent

Sensex plunges 709 points on global selloff, Nifty below 10,000

SBI was the top laggard in the Sensex pack, dropping over 5 percent

Despite heightened volatility amid fears of an economic recession, investors began bottom fishing at lower levels

NSE Indices' Index Maintenance Sub-Committee decided to accelerate the removal of Yes Bank from Nifty 50 and Nifty Bank

Sensex fell 2.06 per cent closing at 36562.91 down 769.88 points while the Nifty 50 closed 2.04 per cent or 225.35 points down at 10797.90.

The Nifty is down for the third consecutive day amid negative global cues.

The Nifty 50 fell 4.98 per cent in July F&O series, the worst since October 2018 when it declined 13.3 per cent.

Sentiments were hit by sharp rise in crude prices and geopolitical tensions as well as trade war worries.

The broader markets outperformed frontliners with the Nifty Mid-Cap and Small-Cap indices rising 0.46 per cent and 0.33 per cent respectively.

The broader market performed even worse with the BSE Mid-Cap down 0.98 per cent and Small-Cap down 0.85 per cent.