The Indian equity benchmark S&P BSE Sensex fell as much as 418.38 points or 1.13 percent to end at 36,699.84 in the closing session on Monday, 5 August.
The broader market index represented by the NSE Nifty 500 Index fell as much as 1.23 percent, down 134.75 points to close at 10,862.60.
Earlier during the day, markets opened in the red, tracking losses in Asian peers. The S&P BSE Sensex had fallen as much as 1.4 percent to 36,593.32 and the NSE Nifty 50 slipped as much as 1.44 percent to 10,838.65.
Earlier during the day, Sensex pared some of the early losses, but was still down over 396 points in afternoon trade, as selling pressure witnessed in key front-line stocks amid weak global cues, PTI reported.
Market sentiment also improved after the government moved a Bill to propose the bifurcation of Jammu and Kashmir, traders reportedly said.
After cracking over 700 points, the Sensex pared some losses to trade 396.85 points, or 1.07 percent, lower at 36,721.37. It hit a low of 36,416.79 and a high of 36,844.05.
The NSE 50-share Nifty also recovered 128.00 points, or 1.16 percent, to quote at 10,869.35.
In the Sensex pack, major losers in the afternoon trade included Yes Bank, Tata Motors, Vedanta, SBI, Tata Steel, Power Grid, ICICI Bank, ONGC, Reliance and Maruti.
However, TCS, Bajaj Auto, HeroMotoCorp, HUL, HDFC, Tech Mahindra, Bharti Airtel, and HCL Tech were trading higher.
(With inputs from PTI)
. Read more on Business by The Quint.RSS & BJP’s Nehru-Netaji ‘Cosplay’: Irony Dies a Thousand DeathsSensex Plummets Over 400 Points, Nifty Ends Above 10,800 Mark . Read more on Business by The Quint.