The Indian equity benchmark indices traded lower on Thursday following steep losses in Asian peers amid weak global cues.

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At 9:35 am, the Sensex was trading at 37165.90, down 502.52 points while the Nifty was trading lower by 151.80 points at 10980.05.

The sell-off in the markets deepened as broader markets plunged with Nifty Smallcap100 and Nifty Midcap100 indices trading lower by 2.1 percent and 1.5 percent, respectively.

All the sectoral indices traded with deep cuts with the Nifty IT, Nifty Media, Nifty Metal, Nifty PSU Bank and Nifty Auto falling the most.

Hindalco Industries, ZEEL, Tech Mahindra, Infosys and Tata Motors were among the stocks with a sharp decline, while Bajaj Auto was the only one to trade in the green.

Globally, Asian shares fell on Thursday following a slump on Wall Street overnight, as a series of warnings from U.S. Federal Reserve officials underscored investor worries over the resilience of the economic recovery.

MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 1.35 percent in the morning session on broad losses across the region.

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