Elsewhere in Asia, bouncers in Shanghai and Hong Kong were in the red in mid-season deals, while Tokyo and Seoul were trading on a positive note.
The index benchmark Sensex fell by over 400 points in early trade on Thursday amid foreign exchange outflows and a weak trend in global markets, while index majors Reliance Industries, Infosys and HDFC Bank lost losses.
The 30-share BSE index was down 404.94 points or 0.82% at 48,775.37, and the broader NSE Nifty closed 113.50 points or 0.78% at 14,435.90.
IndusInd Bank was the top 2% in the Sensex pack, followed by Maruti, SBI, Axis Bank, Bajaj Finance, Reliance Industries, Infosys and HDFC Bank.
On the other hand, ONGC, Titan, L&T and Dr. Reddy were among the beneficiaries.
The Sensex fell 871.13 points or 1.74% to 49,180.31 in the previous session and the Nifty fell 265.35 points or 1.79% to 14,549.40 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday, as they closed shares worth ₹ 1,951.90 crore according to exchange data.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “Market uncertainty continues with the risk arising from the second wave of the COVID-19 attack in India, with reference to the third wave in parts of Europe. “
Volatility is here for some time before volatility emerges, he said, a major trend in the market now is the withdrawal of pharma shares in recent times and weakness in banking stocks.
Elsewhere in Asia, bouncers in Shanghai and Hong Kong were in the red in mid-season deals, while Tokyo and Seoul were trading on a positive note.
Top Nutrition on Wall Street ended overnight with a significant loss in business.
Meanwhile, global oil benchmark Brent crude was trading 1.41% down at $ 63.50 a barrel.
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