The Indian markets were feeble on the expiry day of September derivative series, plunging nearly two per cent, on the back of subdued global cues.
The S&P BSE Sensex dipped over 700 points to 36,0930 levels and the Nifty50 index slipped below the psychological level of 11,000. Mahindra & Mahindra, Bajaj Finance, Infosys, Tata Steel, and IndusInd Bank, all slipped over 2 per cent and were the top Sensex laggards.
All the Nifty sectoral indices were painted red, with Nifty IT and Nifty Metal indexes, down 2 per cent each, taking the biggest hit.
In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 1.75 per cent and 1.9 per cent lower, respectively.