The Sensex lost more than 460 points, wiping off the early gains after reaching an intraday high of 60,877, and was trading at 60,190. In the meantime, the Nifty50 index was trading near the 17,900 mark.
From the Sensex pack, Engineers India, Sundram Fasteners, CEAT, Jindal Saw, Balkrishna Industries are the top gainers.
Bajaj Finance, Bajaj Finserve, Cholamandalam Investment & Finn, IRB Infrastructure Developers, Hitachi Energy India are the laggards.
On National Stock Exchange, Engineers India, JBM Auto, Fertilizers & Chemicals Travancore, CEAT, Sundram Fasteners are winners.
Bajaj Finance, Bajaj Finserve, Cholamandalam Investment & Fin, General Insurance Corp Of India, IRB Infrastructure Developers are the top losers.
Markets opened in the green earlier in the day, before both benchmarks became turbulent. In the early trend of trading, the 30-share BSE Sensex increased 209.39 points to 60,866.84. The NSE Nifty index as a whole increased by 59 points to 18,101.95.
Equity markets in Seoul, Tokyo, Shanghai, and Hong Kong were all showing uptrend.
On Wednesday, markets in the US finished in the green.
“The Fed minutes were distinctly hawkish with the message that “restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2 per cent”.
“In spite of this hawkish minutes the US markets closed in the positive territory because the markets expect a soft landing for the US economy since the economy continues to be resilient,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.