The Nifty had a volatile session with foreign selling seeing huge volatility as the index gyrated over 254 points before closing down 37.
Bank Nifty also saw huge swings of 726 points before closing down 265.
Huge collateral interest in Chinese technology and fintech stocks saw unwinding in Indian equities as forced liquidation dragged the markets.
For today expect more intraday swings as the expiry of derivative contracts will see volatility with midcaps seeing more action as results beat estimates.
US Market: US stocks were volatile as Federal Reserve leaves rates unchanged with an outlook for growth increasing.
Bond yields fall to 1.22% with US$ also seeing selling pressure to close at 92.22.
Banks see profit booking while technology stocks lead the comeback with Nasdaq gaining over 100 while Dow Jones loses 100.
Asian Market: Asian markets opened in the green led by the Japanese 'Nikkei' was up over 175 points in early trade after seeing hue volatility in the past week.
As the Chinese and Hong Kong markets see the worst ever fall in over 3 years, the indices lose over 13% in 3 sessions.
Expect some pullback today from the oversold territory with the US$ weakness also spelling good news for Asian markets.