Sensex plunges 170 points, Nifty nears 24,350 as market takes a hit

The decline comes after the Nifty 50 closed at 24,435.95 on Wednesday, down 35.75 points, or 0.15 per cent.

Cement, pharma stocks lead losses

Sectoral indices came under pressure in early trade, with Nifty Cement emerging as the biggest loser, declining around 1 per cent. Nifty Pharma also traded lower, according to NDTV Profit.

Investors remained cautious amid volatility surrounding the expiry of futures and options contracts.

Tata stocks under pressure

Tata Group stocks remained under pressure, adding to the weakness in the domestic market. Investor sentiment was also influenced by developments surrounding the group's leadership.

Global cues remain mixed

Asian markets remained largely positive on Thursday, with equities in South Korea and Japan trading higher. The positive regional cues offered some support to sentiment, although domestic factors continued to weigh on Indian benchmarks.

Crude oil, global uncertainty weigh

Higher crude oil prices and broader global uncertainties remained key concerns for Indian investors. Rising oil prices can put pressure on India's import bill and inflation outlook, making the trend an important factor for domestic equities.

Market participants are expected to track developments in global markets, crude oil prices and institutional flows for further direction during the session.