Tata Consultancy Services (TCS), Reliance Industries and Yes Bank were the top drags on the Sensex

Stock markets fell on Thursday amid a broad-based selloff led by information technology, pharma, metal and auto sectors. The S&P BSE Sensex index fell as much as 127.88 points to touch 39,087.76 in intraday trade, and the NSE Nifty benchmark declined 42.65 points to 11,644.85. At 12:09 pm, the Sensex traded 98.34 points - or 0.25 per cent - lower at 39,117.30, while the Nifty was down 34.75 points - or 0.30 per cent - at 11,652.75.

Market breadth favoured declines, with 701 stocks trading with gains on the BSE, and 1,433 struggling with losses. On the NSE, 474 stocks advanced while 1,203 declined.

Top percentage laggards on the 50-scrip index at the time were Yes Bank, Tata Motors, ONGC, Vedanta, Coal India, Titan, Maruti and JSWL Steel, struggling with losses of between 2.07 per cent and 11.53 per cent.

(Also read: Yes Bank shares fall nearly 20% after earnings miss, here's what analysts say)

Tata Consultancy Services (TCS), Reliance Industries and Yes Bank were the top drags on the Sensex.

(Also read: Wipro shares rise over 3% after earnings announcement)

On the other hand, Wipro, HDFC, Britannia, HDFC Bank and Bajaj Finance - trading between 0.98 per cent and 3.14 per cent higher - were the top Nifty gainers.