The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Tata now occupies the fourth slot with the incremental volumes from the Tiago
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
All the sectoral indices, led by realty, metal, consumer durables and power were trading in the negative zone on Thursday.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
The government has mandated that from October 2017, all new car models will have to be equipped with airbags to meet crash test norms.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Positive cues from the global market front aided the rally.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
The NSE Nifty also moved up by 12 points to 8,648.35.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
However, IT stocks fell on weak growth forecast by Gartner
The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
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