The key Indian equity indices slumped over 1 per cent on Thursday with the BSE Sensex closing 470 points lower, owing to heavy selling in oil, metal and IT stocks amidst mixed global cues.
Selling activity was witnessed across sectors and the key indices remained in the red throughout the day. Stock-wise, Yes Bank lost the most, by over 15 per cent.
The Sensex closed at 36,093.47, lower by 470.41 points, or 1.29 per cent, than the previous close of 36,563.88 points. It had opened at the intra-day high of 36,613.93 points and touched a low of 35,987.80 points.
The Nifty50 on the National Stock Exchange closed at 10,704.80, lower by 135.85 points, or 1.25 per cent, than its previous close.
"There is a clear disappointment in the market. The government is showing intent to help, but that is not enough to calm down investors," said Saurabh Jain, assistant vice-president of research at SMC Global Securities in New Delhi.
"There is chaos and the benefit of doubt that markets were giving to the government that they may come to the rescue is not holding up."
The BSE Oil and Gas index fell 1.94 per cent during the day, as global crude oil prices continued to rise following the weekend drone attack on Saudi oil facilities. Brent crude oil futures were around $65 per barrel, higher by 2.22 per cent from its previous close.
The only stocks which gained on the Sensex on Thursday were Tata Motors (up 1.97 per cent) and Tata Motors (DVR) (1.43 per cent) followed by HDFC Bank, Bharti Airtel and Asian Paints.
Meanwhile, only seven out of 50 stocks on the blue-chip index ended higher.
On the other hand, the major losers were Yes Bank (down 15.52 per cent), Tata Steel (3.66 per cent), IndusInd Bank (3.59 per cent), ICICI Bank (3.16 per cent) and Maruti Suzuki India (2.55 per cent).