Investors are fleeing risky assets and running to safe havens like gold and bonds. Both the indexes recorded their biggest weekly fall since July 2009 with Sensex falling 1,631 points or 6.62 percent and Nifty down 508.15 points or 6.78 percent.

The total investor wealth, measured in terms of cumulative value of all listed stocks on BSE, slumped by over Rs 7 lakh crore during the torrid week.

Moreover, since the start of the year, the Sensex has lost around 3,131.42 points or 12 percent and logged weekly fall in five out of six weeks since then.

Sinking to its lowest level in 21 months, Sensex yesterday crashed 807 points to drop below 23,000-mark as concerns over global economy and mounting bad loans wiped off over Rs 3 lakh crore from the wealth of panic-stricken investors.

The Sensex has come off more than 23 percent from its all-time peak of over 30,000, scaled nearly a year ago on March 4, 2015. A fall of 20 per cent from an all-time peak is considered as a 'bear market' -- a term used for a sustained slide.

Meanwhile, attributing the recent crash in stock market to global factors, Finance Minister Arun Jaitley today said there was no need for "exaggerated panic" and investors should keep the economy's inherent strength in mind while investing.

The sensex resumed higher at 23,060.39 and hovered in a range of 23,161.15 TO 22,600.39 before ending at 22,986.12, showing a gain of 34.29 points or 0.15 percent.

The NSE Nifty moved up marginally by 4.60 points or 0.07 percent to close at 6,980.95 still closing at 21-month low. Shares of Tata Motors ended 8.34 percent higher at Rs298.650, while Bharti Airtel rose 5.40 percent to Rs 325.25.

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