The BSE Sensex closed over 179 points lower at 35,037.64, declining by 0.51 percent, while the NSE Nifty 50 shed over 82 points to end the day at 10,589.10, lower by 0.77 percent. On the NSE, 14 scrips advanced as against 36 declines, while all sectoral indices ended in the negative zone except Nifty Metal. Nifty IT, Media, Pharma, PSU Bank, Realty declined between 1-2.21 percent. Nifty MidCap and SmallCap also declined almost by up to 2 percent. NTPC, M&M, Kotak Bank, Infosys, Hindalco remained top gainers on the broader 50-share index, while Tech Mahindra, Titan, BPCL were among the major laggards on the NSE. Tech Mahindra declined almost 7 percent. BSE MidCap and SmallCap also declined by up to 1.6 percent, while all major BSE sectoral indices under performed. Realty, Oil & Gas, Consumer Durables, Telecom, Energy declined the most. M&M, NTPC, Bharti Airtel, HDFC Bank, Kotak Mahindra, NTPC, Infosys, Tata Steel, Wipro and Vedanta were among top gainers, while the ICICI Bank, Tata Motors, Coal India, Reliance, SBI, Maruti Suzuki, Power Grid, TCS, ITC were among top losers.
Market update at 3.45pm)
The BSE Sensex and the NSE Nifty 50 extended losses in the afternoon trade on Thursday declining further ahead of derivatives expiry and rupee hitting lifetime low amid rising crude prices. The Sensex plunged over 228 points, or 0.65 percent, to 34,989.08, while the Nifty 50 shed over 93 points, or 0.88%, to 10,577.95 at 2.48. M&M, Infosys, Tata Steel, Axis Bank, Wipro were top gainers on the BSE, while Coal India, Power Grid, ICICI Bank, SBI, Yes Bank were the top laggards on the 30-share Sensex. Lupin and Idea Cellular were among other major gainers on the NSE along with M&M, Infosys, Tata Steel, while Tech Mahindra, Titan, Gail, HPCL were top losers on the 50-share Nifty. BSE MidCap and SmallCap are down by over 1.5 percent to nearly 2 percent on both benchmark indexes, while almost all sectoral indices on the NSE were in the red.
Market update at 2.50pm)
Here's what happened before noon session
Indian benchmark indexes further declined in the pre-noon session after the rupee dipped to a lifetime low of 69.1 against the US dollar amid rising crude oil prices.
Trade sentiments also remained weaker owing to the expiry day of the June series derivatives contracts as well as global trade uncertainty.
At 11.35am, the 30-share benchmark S&P BSE Sensex was trading nearly 100 points lower, or 0.28 percent, to 35,117.87, while the broader 50-share NSE Nifty 50 was down by 40.60 points, or 0.38 percent, to 10,630.80.
The Sensex had lost over 272 points on Wednesday.
Market sentiment remained fragile and most sectoral indices remained in the negative zone, particularly realty, power, oil and gas, consumer durables. MidCap and SmallCap on both indexes continued to underperform.
Top Sensex losers included Coal India, ICICI Bank, Power Grid, HDFC ltd, Yes Bank, RIL, L&T, SBI, TCS, Hero MotoCorp, Tata Motors, Adani Ports, Asian Paints, Maruti Suzuki and Bajaj Auto, falling up to 2.06 percent. M&M, Infosys, Tata Steel, ONGC, HDFC Bank, Vedanta Ltd, Wipro, Axis Bank, NTPC were among the gainers, rising by up to 1.84 percent.
Follow CNBCTV18.com's live market blog here
In Asia, the overall sentiment remained subdued due to uncertainty over trade ties between the US and other leading economies. The trade spat between the Trump administration and China has hit the stocks of the largest Asian economy particularly hard. On Wednesday, the Shanghai Composite index plummeted 1 .1 percent, down more than 20 percent from its late January level.In early trade today, the MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent to a nine-month low in early trade while Japan's Nikkei shed 0.30 percent. The US markets erased Tuesday’s gains with the S&P 500 losing 0.6 percent on Wednesday to one-month closing low.