Mumbai: The Sensex is down 807.07 points or 3.4 per cent at 22951.83 and the Nifty slips 239.35 points or 3.3 per cent at 6976.35.
About 342 shares have advanced, 2343 shares declined, and 93 shares are unchanged.
Tata Motors, BHEL, Adani Ports, ONGC and Hindalco were top losers in the Sensex while Cipla, Bharti Airtel and Dr Reddy's were gainers.
European stocks traded sharply lower on Thursday, dragged down by a sell-off in banking and mining stocks, investors digest comments made by US Federal Reserve chair Janet Yellen and what that means for the timetable for interest rate hikes. The pan-European STOXX 600 was down 3.1%.
In her semi-annual congressional testimony, Yellen said that the Federal Open Market Committee (FOMC) had not fully researched the legality around negative interest rates, amid whispers that the central bank could enact such a policy. But Yellen did admit that weakness in the global economy and risks from China could weigh on the outlook for US growth.
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