The BSE Sensex index fell 329.92 points or 0.43 per cent, closing at 76,190.46. During trading, it declined by 428.63 points or 0.56 per cent to 76,091.75. The NSE Nifty finished at 23,092.20, down by 113.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,303 level, a premium of nearly 40 points from the Nifty futures’ previous close.

Amid a sustained selloff in the broader market, the Indian equity market valuation has dropped to its lowest level in over 30 months.