Losses in heavyweights from bank, NBFC, energy, auto and metal sectors dragged Sensex.
The uncertain situation in Kashmir also hurt investor sentiment to some extent.
In the short to medium term, market may witness a bounceback given it's in oversold zone.
After plunging 411 points intraday, Sensex rebounded to end with a gain of 100 points.
The selloff aggravated after US President Donald Trump threatened to impose more tariffs on China.
Market kept reeling under pressure with no respite from global and domestic headwinds.
The BSE Midcap and Smallcap indices were 0.12 per cent up each in morning session.
The market breadth remained tilted towards negative as 1,355 stocks declined on BSE against 1,137 that logged gains.
Investors anxiously waited for the Fed meet outcome today.
Shares of Coffee Day Enterprises hit a lower circuit limit of 20 per cent to close at Rs 154.05.
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