new delhi indian equities declined for a third day in a row on wednesday making investors poorer by a whopping rs 1572 lakh crore in the threeday crash since mondayintense selling engulfed the equity market for yet another day with the benchmark bse sensex plummeting 170958 points or 559 per cent on wednesdaysince monday the index has plunged 523397 points to hit a oneyear low of 2861305 as fears of global recession due to coronavirus pandemic hit investor sentimentread alsosensex tanks 1710 points to close at 28870 nifty ends below 8500equity indices on wednesday continued to slump for the third straight session with the benchmark bse sensex crashing over 1700 points amid coronavirusled sell off the 30share bse index fell 1710 points or 559 per cent to close at 28870 while the broader nse nifty finished 498 points or 556the market capitalisation mcap of bselisted companies eroded by rs 157291352 crore in three days to reach rs 1135332930 crore on wednesdaybarring ongc and itc all 30 sensex stocks dived indusind bank power grid corporation of india kotak mahindra bank bajaj finance and hdfc bank were among the major losers tumbling up to 2390 per centbanking shares were hit the most following the supreme court directive to telecom firms to clear agr adjusted gross revenue dues in full as mentioned in its judgementindian equity markets witnessed yet another sharp fall as the increasing number of coronavirus cases and tough stance by the supreme court on agr dues continued to spook the markets siddhartha khemka head retail research motilal oswal financial services ltd saidworries of greater disruptions in businesses rose due to the rising number of new coronavirus cases in india many states have shut restaurants malls gyms and movie theatres as a precautionary measure he addedfurther the supreme court held that no further objections to its orders would be allowed against telecoms agr dues payablebanking shares slumped as a collapse of a telecom operator could add to lenders bad loan pile khemka observedbse telecom bank finance and utilities were hit the most and plunged up to 948 per centat the bse 1882 companies declined while 963 advanced and 186 remained unchangedin the broader market the bse midcap and smallcap tumbled 484 per cent and 609 per cent respectivelythe frontline indexes were down by close to 550 per cent in a market hit by the likely adverse impact of the pandemic at a time when it was negotiating a critical juncture in the already existing economic sluggishnessmarkets will continue to mirror the developments overseas till some comfort on the spread of the pandemic is received according to joseph thomas head of research emkay wealth managementmore than 1056 companies hit their one year low mark on wednesday