ITC was the top laggard in the Sensex pack, falling over 5 per cent, followed by ICICI Bank, Kotak Bank, Axis Bank, SBI and HDFC Bank.
Equity benchmark Sensex lost 1,159 points on Thursday as monthly derivatives expired amid a weak trend in global markets.
The 30-share index ended 1,158.63 points or 1.89 per cent lower at 59,984.70. Similarly, the broader NSE Nifty ended 353.70 points or 1.94 per cent lower at 17,857.25.
ITC was the top laggard in the Sensex pack, falling over 5 per cent, followed by ICICI Bank, Kotak Bank, Axis Bank, SBI and HDFC Bank.
On the other hand, IndusInd Bank, L&T, UltraTech Cement and Asian Paints were among the gainers.
Binod Modi, Head (Strategy), Reliance Securities said, “Domestic stocks witnessed heavy selloff and sharp recovery mainly in heavyweight financials and IT, which wiped out around Rs 4.5 lakh crore from investors’ wealth.”
All major sectoral indices fell sharply, with Nifty PSU Bank falling over 4 per cent. Apart from weak global cues, opening of long positions in financials especially on F&O expiry, which had seen a sharp rally in the recent period, were the major reasons for the sharp fall in the market, he added.
Elsewhere in Asia, shares ended with losses in Shanghai, Hong Kong, Seoul and Tokyo.
Stock exchanges in Europe were also trading in the red in mid-session deals. Meanwhile, international oil benchmark Brent crude slipped 1.11 per cent to $82.94 a barrel.
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