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The 30-share index, after opening positive at 36,924.72, quickly succumbed to selling pressure and fell by 210.22 points, or 0.57 per cent, to 36,631.38 in early trade.
The minister's remarks come in the wake of stock markets witnessing sudden and stiff fall in intra-day trade on Friday over concerns of liquidity crisis being faced by some of the NBFCs.
The regulators came out with separate but identical statements amid apprehensions about steep volatility in markets on Monday.
The 30-share benchmark, which opened on a strong footing, suddenly tanked 1,127. 58 points, or 3. 03 per cent, to hit a low of 35,993. 64 at 1309 hours, before staging an equally sharp recovery.
Sensex touched an intra-day low of 35,993.64 points, against the previous close of 37,121.22 points.
Besides, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee, forex dealers said.
The Sensex has now lost about 970 points in three days, largely due to rupee woes, high crude oil prices, unabated foreign fund outflows and escalating trade tensions
The index tanked 970 points or more than 2.5 per cent since Monday, largely hit by rupee woes and escalating trade tensions between the US and China.
Stocks saw a positive start as the Sensex touched a high of 37,530.63 intra-day in tune with the rupee recovering from its record low.
The rupee strengthened 0.7 per cent to 72.5350 per dollar on Wednesday, after hitting an all-time low of 72.99 in the previous session.
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.
The domestic currency after remaining range-bound was quoting lower by 27 paise at 72.78 (intra-day) against the US dollar in late afternoon trade.
Asian shares fell, and copper prices eased after Washington announced new tariffs on Chinese imports, inflaming trade tensions between the world's two biggest economies.
The 30-share BSE index gained 159.93 points or 0.42 per cent in opening trade but soon turned choppy falling 37.10 points, or 0.10 per cent, to 37,548.41.
Escalating trade war tensions between the US and China, as well as the rupee worries, have dented the market sentiment, experts said.