The BSE Sensex and NSE Nifty tanked 405 points and 136 points respectively due to weak global cues, depreciating rupee and outflow of money from FIIs. Sensex closed at 17,196, while the Nifty closed at 5,228.
The fall in the markets completely wiped out the gains from Wednesday.
“The concerns over the leaked CAG report and rising dollar rates disturbed the overall sentiments. Selling pressure was witnessed across the board with 48 out of 50 stocks in Nifty falling,” said Mr Milan Bavishi, Head Research-Inventure Growth and Securities.
The weak euro zone Purchasing Managers Index was also a factor for the widespread selling in the Indian markets. The news about manufacturing contracting in the Euro zone impacted the European markets negatively. The European markets were down by around 1.4 per cent each. The Asian markets ended on a mixed note.
Sectorally, Realty and Power were down by 4.25 per cent and 3.62 per cent respectively.
The top gainers on the BSE were Coal India, Hero MotoCorp and ONGC, while the top losers were Jindal Steel, DLF and Tata Steel.
Oil was down 1.27 per cent, to $105.91 a barrel.