The Sensex ended the day lower by 1624 points, while the Nifty closed lower by 502 points. China, closed lower by 8.5 per cent, its biggest slide since 2008.
Other Asian markets were swift to react with Hang Sang, Taiwan Weighted and the Japanese Nikkei all down between 3-6 per cent each.
Stocks of Nestle India today defied the broader market trend and gained in morning trade on the bourses, reports PTI.
Stocks rose during intra-day but ended the day at Rs 6036, lower by 0.90 per cent on NSE. It touched an intraday high of Rs 6208 during the trade.
Shares of Indian Oil Corporation plunged below their floor price of Rs 387 per share fixed for the offer-for-sale (OFS), which opens today.
The stock ended the day at Rs378, lower by 4.24 per cent on NSE. It touched an intraday low of Rs 375 during the trade.
Shares of Astra Microwave rose after the company announced the formation of a joint venture company (JVC) with M/s Rafael Advanced Defense Systems Ltd., Israel, for joint production.
The stock ended the day at Rs 113, higher by 1.75 per cent on NSE. It touched an intraday high of Rs 118 during the trade.
Glenmark Pharma shares dropped the brokerage Bank of America Merrill Lynch (BoAML) downgraded the stock to underperform.
The stock ended the day at Rs 1124, higher by 8.35 per cent on NSE. It touched an intraday low of Rs 1109 during the trade.