Taking cues from global markets, the domestic equity market started on a negative note on Thursday. Benchmarks Nifty50 and the Sensex declined around 2% each as the former slipped below 16,000 and the latter shed over 1100 points. The headline indices opened at 15,917.40 and 53,070.30 respectively. Nifty midcap and small cap too declined over 2% in the early trade. Among sectors, banking and realty stocks were worst hit on Thursday.  

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In the pre-open, the Sensex tanked over 1100 points or more than 2% as all stocks turned red on the 30-share index.  

Earlier, Asian market were trading deep in the red on Thursday morning. Japanese Nikkei was down more than 2.5%, Hang Seng Index at the Hong Kong Exchange declined more than 3% and Chinese Shanghai Composite was trading lower by 0.8% in the early trade. Besides, SGX Nifty Futures dropped over 300 points on the Singaporean Exchange, hinting a negative opening for the Indian market on Thursday. 

On Wednesday, on Wall Street, the Dow Jones Industrial Average fell 3.56%, the S&P 500 lost 4.03% and the Nasdaq Composite dropped 4.73%.