The benchmark Sensex of the Bombay Stock Exchange (BSE) fell 147 points, or 0.8%, to close at 18,349 on Thursday, its biggest fall in two weeks, amid political uncertainties and weak global market trends.
“Investor sentiments were hit because of the weak global markets data and domestic political uncertainties,” said Alex Mathews, head, research, Geojit BNP Paribas Financial Services.
The Nifty of the National Stock Exchange also lost 0.8%, or 46 points, to 5,554.
“Going forward, market may remain subdued for some more time and may consolidate at around 5,500 levels before marking a further up move,” said Mathews.
Shares of retail companies such as Provogue and Pantaloon Retail fell as much as 4.5% as investors booked profits.