Market drops 1%: Nifty slips below 17,600, Sensex tanks 600 points; IT, Realty top drags

Snapping a three-day bullish rally, domestic equity markets corrected 1 per cent in the afternoon trade amid weak global cues on Thursday. The broader Nifty50 briefly slid below 17,600 to 17,584.95 as the index corrected 1 per cent. Similarly, Sensex slipped more than 600 points to hit day's low of 58,883.38. The markets were largely dragged by IT, Realty and banking shares even as auto stocks outperformed in a falling market.  

Nifty Auto was the top performing index on Thursday afternoon with nearly 1 per cent gain. IT, metal and consumer durables were other sectors that fared well in an otherwise negative market.  In the broader market, Nifty small cap and mid cap traded flat to negative.  

See Zee Business Live TV Streaming Below:

HDFC ltd, SBI Life, Infosys, L&T, Tech Mahindra, ONGC, Kotak Bank, Dr Reddy's and Nestle India were top drags on Thursday.   

Hero MotoCorp, Bajaj Auto, Maruti, Eicher Motors, Titan, State Bank, ITC and Tata Steel were top gainers on Nifty and the Sensex.  

In the Asian market, SGX Nifty declined 159 points or 0.89% to 17,649.50, mirroring Indian markets sentiments, and Japanese Nikkei 225 was trading lower by 1.06% on around 12.45 pm.