Continuing their roller-coaster ride, the markets on Thursday witnessed a sharp fall after trading firm for the first half of the session.
According to experts, the reason for weakness in the European markets over the suspension of redemption by BNP Paribas from three big funds could be the catalyst for the bearish sentiments on Thursday.
The 30-share BSE Sensex was down 207.83 points or 1.36% before winding up the day at 15,100.15 points. The broader Nifty too declined by 58 points or 1.32% to close at 4,403.20 points. During the day, the Sensex swung a whopping 480 points.
Aluminum major Hindalco Industries plunged 3.61% followed by State Bank of India, down 3.30%, and Reliance Energy, down 3.22. Index major Reliance Industries was down by 1.79%. Frontline IT stocks, which witnessed a rally on Wednesday, were reeling under sever selling pressure.
Infosys Technologies was down 1.61% while Satyam Computers fell by 2.55%.
The market breadth was negative as 1,611 (60.34%) shares declined against advances by 1,012 (37.90%) shares.