India Cements got a Damani boost to surge 20 per cent on Wednesday, as Gopikishan Damani, brother of fabled investor Radhakishan Damani, bought a stake in the cement maker.

Navin Fluorine extended its rally into second day, gaining a further 6 per cent. Shilpa Medicare closed at 5 per cent lower circuit after getting Form 483 from the US drug regulator.

Auto stocks were battered, with Motherson Sumi and Tata Motors closing 4 per cent down each. BSE flagship Sensex plunged 392 points to 39,888 while NSE barometer Nifty crashed 119 points to 11,678. "Rising concerns about coronavirus is impacting global markets.

The economic impact is expected to be worse than what was thought earlier, forcing investors to stay away from risky assets.

The domestic market is bracing for yet another subdued GDP growth, which is adding to the fear," said Vinod Nair, Head of Research at Geojit Financial Services. Here is a lowdown of the movers and shakers of Wednesday’s session on Dalal Street:Navin Fluorine keeps rallyingExtending gains into the second consecutive session, shares of fluorochemical manufacturer Navin Fluorine rallied 5.76 per cent to Rs 1,538.95 on the back of a multi-year contract win from a global firm. Fitch cuts JSW Steel outlookJSW Steel said Fitch has revised the outlook on the company to 'negative' from 'stable'.

Shares of the company shed 1.12 per cent to Rs 259.75 following the news. TaMo gets nod to raise Rs 500 croreTata Motors said its board approved committee has given its approval for raising Rs 500 crore.

Meanwhile, Jaguar Land Rover (JLR) said it commenced bookings of the new Land Rover Defender in India.

Shares of the auto behemoth fell 3.57 per cent to Rs 144.50. Moody’s confident about AirtelMoody's Investors Service said Bharti Airtel has the financial capacity to withstand a payout of $5 billion in statutory dues.

Shares of the telco closed 0.10 per cent down at Rs 534.80. Cipla gets warning letterShares of drug firm Cipla slid 0.68 per cent to Rs 422.45 after the US health regulator issued a warning letter for its Goa manufacturing facility. Aurobindo receives EIRAurobindo Pharma said that it has received an establishment inspection report from the US health regulator with Voluntary Action Initiated (VAl) status for its Unit VIII manufacturing facility in Hyderabad.

Shares of the drugmaker gained 1.18 per cent to Rs 510.05. IndiGo shares bounce backShares of InterGlobe Aviation gained 1.49 per cent to Rs 1,397.25 after taking a beating on Tuesday following reports that Sebi has found violations in corporate governance and listing disclosure norms of the company. Crisil shares fall 4%Rating agency Crisil said it completed the acquisition of proprietary benchmarking data provider Greenwich Associates.

However, the stock closed 4.15 per cent lower at Rs 1,573. Bandhan Bank nears 52-week lowShares of Bandhan Bank hit another 52-week low even as Reserve Bank of India allowed the private sector lender to expand its branch network.

The stock slipped 2.38 per cent to Rs 394.25. Shilpa Medicare gets Form 483Shares of Shilpa Medicare hit the lower circuit limit of 5 per cent and closed at Rs 489.45 after the US Food and Drug Administration (USFDA) issued Form 483 with 15 observations to the company’s Jadcherla Unit. India Cements soarsShares of India Cements climbed 19.95 per cent to Rs 104.60 after Gopikishan Damani, the brother of market veteran Radhakishan Damani, bought 2.75 per cent stake in the cement maker. Warburg to invest in Apollo TyresApollo Tyres on Wednesday said private equity firm Warburg Pincus will invest Rs 1,080 crore (around $150 million) in the company.

Shares of the company fell 3.59 per cent to Rs 148.85. Volatility skyrocketsIndia VIX, the measure of volatility in the market, rose 8.27 per cent to 18.29 ahead of the February F-O expiry on Thursday.

The rise in volatility gauge means traders expect relatively more volatility going ahead. All sectoral indices in the redAll sectoral indices closed in the red on NSE.

Nifty Auto index was the biggest loser, down 2.15 per cent to 7,207.95 dragged by losses in Motherson Sumi, Bosch and Tata Motors.

Nifty Metal, Nifty Realty, Nifty IT and Nifty Pharma indices were other major losers. Investors lose Rs 5.5L cr in 4 daysEquity investors got poorer by Rs 5.50 lakh crore in the past four sessions as the overall market capitalisation of all the BSE-listed companies has slumped to 153.21 lakh crore. 77 stocks give ‘sell’ signalsAs many as 77 BSE-listed stocks gave bearish signals as they crossed below the signal line on MACD indicator.

They include Reliance Industries, Infosys, Biocon, HFCL, JSW Energy, Castrol India, Granules India, USL, Bajaj Finance and Piramal Enterprises, among others.