Indian indices ended nearly a percent lower on Thursday dragged mainly by metals and banking stocks, as losses in Asian peers also weighed on the sentiment. China seeking stricter control of commodity markets to curb "unreasonable" increases in prices, sparking a broad-based correction globally.

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The Sensex ended 338 points lower at 49,564 while the Nifty fell 124 points to settle at 14,906.

Broader markets, however, underperformed benchmarks with the midcap and smallcap indices were flat but with negative bias.

On the Nifty index, 37 of 50 stocks ended in the red. M&M, Cipla, BPCL, IndusInd Bank and Titan were the top gainers while Tata Steel, Hindalco, Coal India, Britannia and ONGC led the losses.

Among sectors, the Nifty Metal index tanked over 3 percent while Nifty Bank and Nifty Fin Services lost around a percent each. Auto, IT and pharma sectors also ended in the red.

Indiabulls Housing soared 9 percent while TCI Express rallied 17 percent after the stocks posted robust earnings in the March quarter.

Just Dial, India Cements, Chola Invst, M&M Fin, PNB are the top midcap gainers for the day.

(Edited by : Pranati Deva)

First Published:May 20, 2021 3:35 PM IST