Share markets in India are presently trading on a positive note. Benchmark indices recovered early losses to jump more than 1% in a volatile session.

The BSE Sensex is trading up by 346 points while the NSE Nifty is trading up by 98 points.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 0.3%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while capital goods stocks are witnessing selling pressure.

The rupee is currently trading at 76.36 against the US$.

Gold prices are currently trading up by 1.3% at Rs 41,907.

Since the coronavirus outbreak, all BSE indices and NSE indices are down in the range of 25-35%.

In news from the automobile sector, shares of Mahindra & Mahindra (M&M) hit an over nine-year low of Rs 248, sliding 8%, amid concerns that volumes could take a hit due to the spread of the coronavirus.

On Tuesday, Prime Minister Narendra Modi imposed a nationwide 21-day lockdown in an attempt to stall the spread of the virus.

The stock of the automobile company is trading lower for the sixth straight day.

The company on March 22, decided to suspend the manufacturing operations at Nagpur, Chakan (Pune), and Kandivali (Mumbai) plants with immediate effect in light of heightened concern on the spread of Covid-19 in the state of Maharashtra.

M&M share price is presently trading down by 2%.

Moving on to news from the travel and tourism sector, Indian Railways Catering and Tourism Corporation (IRCTC) has asked people not to cancel the tickets they have booked online for those trains that have been canceled and assured them that they will get full refund automatically.

In a statement, IRCTC said that doubts have been raised regarding the cancellation of e-tickets subsequent to the halting of railway passenger trains.

It added that "no cancellation required on the part of the user. If the user cancels his ticket, there are chances he may get less refund. Hence, passengers are advised not to cancel e-tickets on their own for those trains which have been canceled by railways."

Earlier, Indian railways had canceled all trains till March 31 in an effort to stop the spread of COVID-19.

However, after Prime Minister Narendra Modi's announcement of a 21-day lockdown across the country, the Indian Railways said that its suspension of all passenger services will continue till April 14.

Note that the stock of IRCTC hit a lower circuit of 5% for an eighth consecutive session today as coronavirus outbreak has made travelers reconsider going on vacation in this middle of a global pandemic, putting pressure on travel and tourism industry.

The stock has tumbled more than 30% in eight trading sessions from its previous closing high of Rs 1228.

Speaking of the Indian railways, here's what Tanushree Banerjee wrote about it in one of the editions of The 5 Minute WrapUp...

• Investment in Indian railways has always been lacking in the past. This has meant a stretched infrastructure with more than 60% of routes being over utilized.
  
  The poor image of Indian railways meant a price hike was never an option for the government.
  
  All this has changed in the recent years.
  
  Since 2014, investment in the Indian railways has increased at a rapid pace.

This is evident in the chart below...

Massive Reforms Underway in the Indian Railways

The government's aim to modernize more than 100 stations to world-class standards and by provide amenities like wi-fi, quality food and beverage services will improve the passenger experience.

Improved services will also help the government justify fare increases in the future.

Tanushree believes such reforms are the need of the hour for the Indian economy.