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Minister of State for Finance Jayant Sinha reassuring the investors said that he himself has been investing in stocks for 30 years now.
The Sensex closed 807.07 points lower at 22,951.83 points-the lowest closing level for the index since May 8, 2014.
Domestic markets have corrected over 20 per cent from their all-time highs as investors extended declines in a global equity rout sparked by European markets.
Dalal Street will again follow rout in global markets as overnight Wall Street ended lower, while morning in Asian markets has also offered no respite.
The stock gained after the airline reported a record stand-alone quarterly profit of Rs 467 crore for the three months ended December.
The airline originally was looking to hit the capital market in the current financial year, which has also seen budget carrier IndiGo's blockbuster IPO.
In an insider trading case, Securities and Exchange Board of India (Sebi) has ordered impounding of unlawful gains of over Rs 2 crore from 15 individuals.
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