The Sensex ended at 19,691, with loss of 492 points and the Nifty settled at 5,904, down 143 points from previous close.
IDFC, who among the top gainers, closed at 0.60 percent up.
Hindalco, Tata Motors, Suzlon Energy, Bharti Airtel, who among the top losers, were at 7.18 percent, 5.61 percent, 4.58 percent, 4.16 percent down respectively.
Nifty struggles at 5,929; Sensex at 19,791
The sell-off in the shares of heavy-weights pushed NSE Nifty back as it lost 119 points just ahead of the closing on Jan 7. Sensex also lost 393 points.
At 3:15 pm, the 30-share BSE Sensex was trading at 19,791, with loss of 393 points and the 50-share NSE Nifty plunged 119 points to 5,929.
Heavyweights like Reliance Industries, Infosys, Bharti Airtel, TCS, ONGC, HDFC, ITC and HDFC Bank were under selling-pressure as it lost 1.5-3.7 percent.
Sensex struggles below 20K; Tata, Hindalco dip
At 2:17 pm, the Sensex crashed 359 points to 19,825 and the Nifty tanked 107 points to 5,941. Market breadth was pathetic; about 199 shares advanced as against 1100 shares declined on National Stock Exchange.
The broader indices slid more than benchmarks; the BSE Midcap Index was down 1.5 percent and Smallcap down 1.7 percent.
Hindalco, Tata Motors and M&M, who among the largecaps, were at Rs 237.05, Rs 1,202 and Rs 735.35 respectively.
Shares of Gammon Infra, UTV Software, Shree Global, Bata India and Jet Airways, who among midcaps, went 1.6-3.9 percent up.
Markets continue on negative note
Following the low trading in heavyweights like Reliance Industries, Bharti Airtel and Infosys, Nifty continued on a negative note at the afternoon trading.
At 12:02 pm, the 30-share BSE Sensex lost 169 points to 20,015 and the 50-share NSE Nifty tanked 52 points to 5,996. Breadth was in favour of declines; about 255 shares advanced while 1009 shares declined on National Stock Exchange.
Hindalco, M&M, Tata Motors, HDFC Bank, Tata Steel, SAIL and Sesa Goa, who among the largecaps, were down 2-4 percent.
However, Reliance Communications, ICICI Bank, Cipla, Reliance Infrastructure, Sun Pharma and Cairn India gained 0.6-1.8 percent.
Nifty begins on a flat note; HDFC, SBI down
Following a lack of global cues, NSE Nifty began trading on Friday, Jan 7 on a flat note amid quite volatility.
At 9:33 am, the 50-share NSE Nifty was trading at 6,036, down 12 points and the 30-share BSE Sensex was at 20,161, down 23 points.
HDFC Bank, PNB, SBI, M&M, Maruti Suzuki, Hero Honda, Ambuja Cements, ACC, Sesa Goa, JSPL, Sterlite Industries, BHEL and L&T, who among the frontliners, were witnessing selling pressure.
However, indices were getting support from TCS, Wipro, Bajaj Auto, Suzlon Energy, ICICI Bank, Kotak Mahindra Bank, Sun Pharma, ITC, HUL and NTPC.