The benchmark index of Bombay Stock Exchange (BSE) fell as much as 127.88 points to 39,087.76 in early trade on Thursday on a sell off across most sectors.
The Nifty moved to 11,644.85, down 42.65 points from the previous close. The sectoral indices led by financials, metal, information technology, pharma and energy dragged the markets lower.
Weak cues from global markets and unabated foreign fund outflow also dragged markets lower. Analysts expect volatility in the markets to continue as more large cap companies report their quarterly earnings.