The domestic equity market was weighed down by a record low rupee and weak global markets.
The Indian rupee touched a new low of 72.67 earlier in the day which dampened the domestic investor sentiment. Globally market sentiments were subdued on concerns that the US might impose further tariffs on Chinese imports.
Among the sector-wise indices heavy selling activity was witnessed in banking auto and oil and gas counters.
At 3.30 p.m. the wider Nifty50 on the National Stock Exchange provisionally closed at 11 438.10 points lower by 151 points or 1.30 per cent from the previous close of 11 589.10 points.
The BSE Sensex which had opened at 38 348.39 points closed at 37 922.17 points (3.30 p.m.) lower by 467.65 points or 1.22 per cent from the previous close of 38 389.82 points.
It touched a high of 38 354.52 points and a low of 37882.83 points during the day.
--IANS rrb/mag/