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Benchmark indices Sensex and Nifty took a beating on Thursday and dropped over 1 per cent each, weighed by selling in index major Reliance Industries, IT and banking stocks amid weak global trends.
The BSE Sensex fell 770.48 points or 1.29 per cent to settle at 58,766.59.
During the day, it tanked 1,014.5 points or 1.70 per cent to 58,522.57.
Similarly, the NSE Nifty declined 216.50 points or 1.22 per cent to close at 17,542.80.
From the Sensex pack, Reliance Industries, Tata Consultancy Services, Sun Pharma, Tech Mahindra, Infosys, NTPC, Hindustan Unilever, HDFC, Power Grid, Bajaj Finance and ICICI Bank were among the major laggards.
In contrast, Bajaj Finserv, Asian Paints, Bharti Airtel, Titan, State Bank of India, Mahindra & Mahindra and IndusInd Bank were the gainers.
Elsewhere in Asia, markets in Seoul, Tokyo, Hong Kong and Shanghai ended lower.
Meanwhile, the international oil benchmark Brent crude declined 2 per cent to $93.73 per barrel.
Foreign institutional investors (FIIs) bought shares worth a net Rs 4,165.86 crore on Tuesday, as per exchange data.
Markets were closed on Wednesday on account of Ganesh Chaturthi.