Benchmark indices tumbled in trade, as US markets saw huge selling pressure with all the indices there ending deep in the red.
Asian markets followed weak closings in the US and were down 2-3.6 per cent. The Japanese Nikkei, the Hong Kong's Hang and the Shanghai Composite were all seeings cuts steep cuts.
The Sensex was down a huge 452 points in trade, while the Nifty lost 135 points in trade,below the 10,100 points mark. Leading the set of losers were Bharti Airtel (down per cent), Adani Ports (down 3 per cent) and ICICI Bank (down 3 per cent). Wipro was flat, following numbers that lagged estimates. 27 out of the 30 stocks comprising the BSE index were down in trade.
Shares in Yes Bank were also trading lower, ahead of numbers to be declared later today. NBFCs once again were having a disastrous day with L&T Finance Holdings down 7 per cent, IndiaBulls Housing down 7 per cent and DHFL down 8 per cent.
Interglobe Aviation, which also reported a loss gained, following a sharp drop in crude prices. IndiaBulls Real Estate, another company that reported results, saw its share price fall by 2 per cent. The company reported a decent increase in net profits and managed to reduce its finance costs.
Meanwhile, the rupee opened at 73.36 to the dollar, lower than Wednesday's close of 73.15.