Indian equities closed with steep losses on Thursday, as a sharp rise in crude oil prices triggered broad-based selling. The Sensex dropped 1,247.71 points, while the Nifty slipped to 23,063, dragged down by weakness in Reliance Industries and major banking stocks.

The 30-share benchmark index ended at 73580.54 down by -1247.71 points or by -1.67 % and then NSE Nifty was at 23063.1 down by -383.7 points or by -1.64 %.

Sensex touched intraday high of 74362.29 and intraday low of 73563.92 The NSE Nifty touched intraday high of 23281.95 and intraday low of 23046.15

The top losers of the BSE Sensex pack were Bajaj Finance Ltd. (Rs. 983.15,-5.47%), Axis Bank Ltd. (Rs. 1186.50,-4.67%), Bajaj Finserv Ltd. (Rs. 1771.00,-4.06%), InterGlobe Aviation Ltd. (Rs. 4890.00,-2.78%), Trent Ltd. (Rs. 2704.00,-2.75%), among others.

HCS index was at 51852.84 up by -289.18 points or by -0.55%. Jagsonpal Pharmaceuticals Ltd. (Rs. 243.85,+7.95%), Sanofi India Ltd. (Rs. 3158.30,+3.43%), Ambalal Sarabhai Enterprises Ltd. (Rs. 41.20,+2.41%), Caplin Point Laboratories Ltd. (Rs. 2857.90,+2.39%), Dr. Lal Pathlabs Ltd. (Rs. 1958.80,+1.88%),.

Bankex index was at 62717.21 down by -1199.31 points or by -1.88%. Au Small Finance Bank Ltd. (Rs. 1000.00,-4.95%), IDFC First Bank Ltd. (Rs. 83.76,-4.70%), Axis Bank Ltd. (Rs. 1186.50,-4.67%), IndusInd Bank Ltd. (Rs. 920.20,-4.15%), YES Bank Ltd. (Rs. 22.44,-3.44%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4802 , shares advanced were 1555 while 3019 shares declined and 228 were unchanged.