CLOSING BELL:Sensex gyrated 690 points intra-day before settling at 57,596, down 89 points and Nifty50 ended at 17,223, down 23 points

Dr Reddy's Labs (up nearly 5 per cent) was the top Nifty gainer today, followed by Coal India, Hindalco, Cipla, NTPC, JSW Steel, Tech M, and RIL. On the downside, Kotak Bank, HDFC Bank, Titan, ICICI Bank, HDFC, Maruti Suzuki, Divis Labs, BPCL, Tata Consumer Products, BPCL, and M&M slipped between 1 per cent and 3 per cent, keeping a lid on the upside.

The broader markets, on the contrary, held their ground and outperformed the headline indices. The BSE MidCap and SmallCap indices added up to 0.3 per cent amid gains in Zee Entertainment, Mindtree, Jindal Steel, Mphasis, Glenmark Pharma, Suven Pharma, Ganesh Housing, Future Retail, and Dish TV.

Among the lot, shares of Zee Entertainment Enterprises (Zee) surged 20 per cent to Rs 307 on the BSE in Thursday's trade after the company's largest shareholder, Invesco, decided to withdraw its EGM requisition notice, which sought removal of Managing Director and Chief Executive Officer (MD & CEO) Punit Goenka from the board of ZEE.

Meanwhile, those of Suven Pharmaceuticals hit a record high of Rs 617, rallying 5 per cent on the BSE in Thursday's intra-day trade. The shares of the company have surged 18 per cent in the last three days on expectations of strong earnings.

That apart, those of Paytm jumped 13.5 per cent to Rs 595 apiece on the BSE in the intra-day trade on the back of heavy volumes.

Among sectors, the Nifty Bank and Private Bank indices declined nearly 2 per cent each, followed by the the Nifty Consumer Durable index, down 1.6 per cent. On the upside, the Nifty Media and Metal indices rose 6 per cent and 1.5 per cent, respectively.