The Indian equity market opened on a negative note on Thursday, with the BSE Sensex falling over 400 points.
The Nifty50 on the National Stock Exchange also plunged over 100 points to trade below the 9,300 mark.
The decline in the domestic indices is in line with the plunge in the Asian stock markets, analysts said.
Around 9.42 a.m., Sensex was 31,600.62, lower by 407.99 points or -1.27 per cent from the previous close of 32,008.61.
It had opened at 31,466.33 and so far touched an intra-day-high of 31,628.56 and a low of 31,344.50.
The Nifty50 was trading at 9,266, lower by 117.55 points or 1.25 per cent from the previous close.
Interestingly, the fall comes a day after Finance Minister Nirmala Sitharaman announced several liquidity measures for MSMEs and NBFCs.