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Benchmark indices saw major selling pressure in late trade on April 25 and reversed more than half of previous day's gains.
The BSE Sensex fell 323.82 points to 38,730.86 and the Nifty50 dropped 84.40 points to 11,641.80 amid rising crude oil prices.
Banking & financials pulled the market lower.
Bharti Infratel (down 10.22 percent), Tata Steel (2.76 percent), Vedanta (2.49 percent), Indiabulls Housing Finance (2.11 percent) and Hindalco (2.07 percent) were top losers.
UltraTechCement and Grasim Industries rallied 5 percent each. BPCL, Dr Reddy's Labs and UPL were other gainers.
HEADLINES OF THE DAY
Brent oil rose above $75 per barrel for the first time this year as quality concerns forced the suspension of some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran.
Indiabulls Ventures Q4 Earnings :- Company's net profit nearly doubled to Rs 109.8 crore in March quarter, against Rs 54.9 crore in same period last year.
Telecom regulator TRAI has directed Dish TV India to comply with the provisions of the new framework for broadcasting and cable TV services, acting on consumer complaints pertaining to the operators' specific offering and grievance redressal helpline.
Maruti Suzuki Q4 Earnings :- Country's largest passenger vehicle maker Maruti Suzuki India has reported a 5 percent year-on-year degrowth in March quarter profit, dented by weak operating performance and muted sales volume.
The crucial resistance for Nifty spot is now seen at 10720 and above this 10920 Support for the immediate term is now placed at 10480 next support will be 10370.
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