As a tweet from Prime Minister Narendra Modi's Twitter handle declared that he would address the nation for an important message on Wednesday noon, Indian benchmark indices witnessed heavy volatility reflecting nervousness of the investor community over the subject.

The 30-share benchmark index Sensex dived by over 100 points but recovered sharply to 38,402.35 at 12:34pm as Prime Minister announced that India had shot down a live satellite in space with an anti-satellite missile in a major breakthrough in space programme.

The markets, which opened higher in the morning over Tuesday's close, sharply dipped following the twitter message as it wasn't clear what the subject of the address to the nation was.

The benchmark BSE Sensex jumped over 200 points on Wednesday during Modi's announcement that India had demonstrated anti-satellite missile capability by shooting down a live satellite.

The 30-share index was trading at 38,443.5, up 212.98 points at 12.24 hrs.

The benchmark index had jumped over 200 points in the opening trading session.

With no precedence of such address after general elections were announced, other than when Indira Gandhi and Rajiv Gandhi were assassinated in 1984 and 1991 respectively, memories of November 8, 2016, were revived when Modi made his first address to the nation to announce demonetisation of 86 per cent of the currency in circulation.

With election code is in place, it was felt that no policy announcement could be made and there could be some development on the Pakistan front as the Cabinet Committee on Security met just before the Twitter message.

Sensex fell to 38,332.22 by 11.35 am and further to 38,304.09 by 11.58 am.

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