Mumbai : BSE Sensex fell 359.64 points or 0.51 per cent to close at 70,700.67 while NSE Nifty declined 101.35 points or 0.47 per cent to 21,352.60.
Market experts attributed the decline to the disappointing results from Tech Mahindra and the persistent decline in financial stocks.
Among the noteworthy stocks which registered a 52-week high on the NSE were Mallu Paper Mills (19.98 per cent), Oswal Agro Mills (19.97 per cent), Balakrishna Paper Mills (19.95 per cent), Urja Global (19.95 per cent) and Rajshree Sugars and Chemicals (19.94 per cent).
The Market experts highlighted the ongoing struggle between Foreign Institutional Investors and Domestic Institutional Investors and advised the investors to capitalize on market volatility.
In the currency trade, the Rupee opened on a flat note against US dollar in the morning session on Thursday amid a muted trend in domestic equities.
Forex traders said the Rupee was trading in a narrow range as rising crude oil prices, strong American currency and sustained foreign flows outflows hit investors sentiments.
At the interbank foreign exchange, Rupee opened at 83.13 against the US dollar and touched an initial high of 83.11 and an early low of 83.14 against the greenback.
In yet another development, Gold prices fell Rs 150 to Rs 63,050 per ten grams in Delhi on Thursday amidst a decline in precious metal prices globally, HDFC Securities sources said. In the previous trade, the yellow metal had ended at Rs 63,200 per ten grams.
On the other hand, silver jumped Rs 200 to Rs 76,200 per ten Kg.
