Equity benchmark indices fell in early trade on Thursday, giving up their gains of the previous four days, on significant selling in Kotak Mahindra Bank and foreign fund outflows.
The 30-share BSE Sensex dipped 296.79 points to 73,556.15. The NSE Nifty slid 97.15 points to 22,305.25.
Kotak Mahindra Bank dropped over 12 percent after the RBI prohibited the company from onboarding customers online or issuing credit cards.
Kotak Mahindra Bank, Bajaj Finance, Hindustan Unilever, Tata Consumer, LTI Mindtree, and Godrej Consumer were the top laggards.
Among the gainers were Axis Bank, Canara Bank, Bank Of Baroda, Sun Pharmaceutical, HCL Technologies, PNB, and SBI.
In Asian markets, Shanghai, and Hong Kong were trading in positive territory, while Tokyo, Taiwan, Malaysia, and South Korea were trading in negative territory.
US markets concluded on a mixed note on Wednesday.
Brent crude gained 0.02 percent to USD 88.04 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 2,511.74 crore on Wednesday.
On Wednesday, the Sensex soared 114.49 points or 0.16 percent to 73,852.94, while the Nifty moved 34.40 points or 0.15 percent to 22,402.40.
Also read: Sensex, Nifty Rise As Global Markets Continue To Trend Steadily
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