Benchmark equity indices Sensex and Nifty tanked in early trade on Thursday.
The 30-share BSE Sensex tanked 561.05 points to 70,939.71. The Nifty plunged 165.6 points to 21,406.35.
At 10:22 am, Sensex was trading 456.72 points down at 71,044.04, whereas Nifty was trading 170.35 points lower at 21,401.60.
The heavy fall in the markets comes on the back of a recent record-breaking rally. The BSE benchmark hit an all-time high of 73,427.59 on Tuesday, and the Nifty also reached its lifetime peak of 22,124.15 the same day.
Among the Sensex firms, Power Grid, Asian Paints, Wipro, HDFC Bank, HCL Technologies, IndusInd Bank, NTPC, and JSW Steel were the major laggards.
Axis Bank, Bharti Airtel, UltraTech Cement, Tata Motors and Reliance Industries were the gainers.
