The Sensex ended the day with losses of 541 points, while the Nifty fell 165 points in trade. On the global front, the Asian markets managed to close higher.
European counters made a weak start with CAC and FTSE trading in red.

Shares of the Motherson Sumi came under pressure for the second day as its biggest client the Volkswagen admitted manipulating emission norms for diesel cars.
Stock ended the day at Rs 241, sharply lower by 7.88 per cent on BSE. It touched an intraday low of Rs 239 during the trade.
Mindtree, announced that it has been selected by Mölnlycke Health Care, to enhance business efficiency using the SAP application suite.
Stock ended the day at Rs 1470, higher by 3.84 per cent on BSE. It touched an intraday high of Rs 1488 during the trade.
Shares of Amtek Auto plunged 20 per cent today amid reports that the company has missed payments on the Rs 800 crore worth of bonds that matured yesterday.
Stock ended the day at Rs 45.85, lower by 11.66 per cent on BSE. It touched an intraday low of Rs 41.55 during the trade.
The company rose in intra-day today after getting GST (goods and services tax) contract and partnering with US company for digitisation.
Also, it signed a three-year agreement with TOMS Shoes to maintain and develop its digital platform.
However, the stock ended the day at Rs 1103, lower by 0.12 per cent on BSE. It touched an intraday high of Rs 1135 and low of Rs 1100 during the trade.
The company said that the Board of Directors has approved the proposal for sale of 10% of ICEX equity i.e. 5% each, to the two bidders who participated in the global tender against the present holding of 26% in ICEX by MMTC at Rs. 10/- per share.
Stock ended the day at Rs 43.05, higher by 2.26 per cent on NSE. It touched an intraday high of Rs 45 during the trade.
Rajesh Exports said that the company has designed a special range of jewellery suitable for the European and North American markets.
Stock ended the day at Rs 429, higher by 2.40 per cent on BSE. It touched an intraday high of Rs 444 during the trade.
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