Equity benchmark Sensex slumped 300 points on August 20, tracking losses in index majors Tata Steel, Reliance Industries and Kotak Bank amid a heavy sell-off in global equities.
The 30-share index ended 300.17 points or 0.54% lower at 55,329.32, while the broader NSE Nifty declined 118.35 points or 0.71% to 16,450.50.
Tata Steel was the top loser in the Sensex pack, plunging over 8%, followed by SBI, Dr Reddy’s, Kotak Bank, Sun Pharma, Bajaj Auto and L&T.
On the other hand, HUL, Asian Paints, Nestle India and Bajaj Finance were among the gainers.
"Domestic equities witnessed high volatility with selling pressure across the counters. Notably, barring FMCG, most sectoral indices traded in red with Nifty metal witnessing steepest decline followed by realty, PSU banks, and pharma," said Binod Modi, head-strategy at Reliance Securities.
Rise in Delta variant cases in various parts of the world and increasing concern about sustainability of ongoing economic recovery globally led to heavy profit-booking in metal stocks, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with heavy losses. Equities in Europe were also trading in the red in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 0.59% to USD 66.06 per barrel.