Sensex tumbled 987.38 points, while Nifty 50 slumped 299.20 points, driven by concerns over debt and deficit levels in the US.
All sectoral indices except media traded in the negative territory, with FMCG, IT, auto, and pharma sectors experiencing significant declines of 1-2 percent.
HDFC AMC, HDFC Life, and BEL shares hit 52-week highs, while several stocks hit 52-week lows. GRSE, Aster DM, ITI, and HSCL shares traded 2-6 percent higher among smallcaps.
On the flip side, TTML, Prince Pipa, Va Tech, Fortis, and SCI shares rallied 7-13 percent, while Aditya Birla Fashion, GMM Pfaudler, HGI Infra, and Colgate tumbled 5-7 percent.