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The key benchmark indices opened with sharp cuts on Thursday as global markets fell on high US inflation data for April that dented investor confidence overnight.
The BSE Sensex shed 800 points to 53,250, and the NSE Nifty fell 200 points to slip below 16,000 level.
Among the Sensex-30 shares, Bajaj Finance, HDFC Bank, L&T, Titan, Asian Paints, Maruti, Tech M, M&M were the top losers, down up to 3 per cent. Britannia, Apollo Hospitals and Tata Motors were the additonal laggards on the Nifty.
PowerGrid, NTPC, ONGC and Bajaj Auto, meanwhile, were the sole gainers on the benchmarks.
In the broader markets, the BSE MidCap and SmallCap indices also opened weak and fell up to 1.6 per cent.
Sectorally, PSB index on the Nifty was the worst hit, falling 3 per cent. All other pockets also suffered steep losses, down 1-2 per cent.
The market breadth was also extremely negative with 2,069 stocks declining on the BSE vs 459 in the green. India VIX rose 4.7 per cent and was near 24 level.
Among stocks, MRPL gained 5 per cent. The ONGC subsidiary reported an over 11-fold jump in Q4 net profit at Rs 3,008.18 crore for the quarter ended March 2022 when compared with Rs 267.51 crore in the corresponding quarter a year ago.
On the flip side, Birla Corporation fell 5 per cent after the company reported a 55.5 per cent drop in net profit to Rs 111.08 crore in the March quarter due to a one-off credit adjustment in income tax expense the previous year.
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