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The NSE Nifty dropped 96.30 points or 1 per cent to end at 9,429.45 points due to across the spectrum selling amid global downturn on concern over political turmoil in the US.
The US markets slumped to six-month lows yesterday reacting to uncertainty on Trump Presidency following allegation of interference with the federal investigation.
Nifty resumed lower amid weak global cues and fell further to end below 9,500 level after three consecutive days of gains.
It hovered between 9,489.10 and 9,418.10 before closing 9,429.45, showing a fall of 96.30 points, or 1.01 per cent. Nifty had gained 124.85 points or 1.32 per cent in the previous three sessions.
Overseas, Asian shares took cues from the US and fell as fears over the fallout from the turmoil in Washington prompted investors to exit risky assets such as equities.
European markets were also trading lower in their afternoon trade.
Sector-wise, Nifty Realty slumped by 3.27 per cent, followed by Metal 2.76 per cent, Commodities 2.20 per cent, Auto 2.19 per cent, PSU Bank 2.10 per cent, Infra 1.83 per cent, Consumption 1.75 per cent, Media 1.66 per cent, Energy 1.56 per cent, CPSE 1.25 per cent, Pvt Bank 1.07 per cent, IT 1.04 per cent, Bank 1.03 per cent, Fin Service 0.91 per cent and Pharma 0.61 per cent.
The broader midcap and smallcap shares underperformed the key indices sliding 2.27 percent and 2.35 percent respectively.
Major index losers were Bosch Ltd 3.83 per cent, Yes Bank 3.68 per cent, Grasim 3.46 per cent, Ultracem 2.91 per cent and Infratel 2.82 per cent.
However, notable gainers were TCS up by 3.29 per cent, Wipro 2.91 per cent, Infy 0.94 per cent, Lupin 0.51 per cent and SunPharma 0.47 per cent.
Meanwhile, FIIs sold shares worth net Rs 731.39 crore yesterday, as per provisional figures issued by the stock exchanges.
A total of 1,376 scrips declined, 317 advanced, while 63 remained unchanged. Total securities that hit their price bands were 115.
Turnover in the cash segment surged to Rs 28,180.87 crore, from Rs 25,764.05 crore yesterday.
A total of 14,008.53 lakh shares changed hands in 8,865,727 trades. The market capitalisation of listed firms stood at Rs 12,408,918 crore.