The Nifty Pharma index closed 0.42 per cent down at 11700.4.

The 30-share BSE Sensex closed down 541.81 points at 59806.28

Frontline indices S&P BSE Sensex and Nifty50 traded in the range. While Sensex ended at 59,806, gaining 542 points or 0.90%, broader market Nifty50 settled at 17,590, down by 165 points or 0.93%.

The Nifty Realty index closed 1.17 per cent down at 402.3.

"The market, therefore, is likely to keep a close eye on non-farm payrolls report due on Friday and any upward surprise in job addition, the unemployment rate or hourly wage growth could increase the possibility of a 50 bps rate hike," HDFC Bank economists wrote in a note.

Reliance Industries is a large company with a variety of businesses. Dipan Mehta, director of Elixir Equities, believes that Reliance will outperform the stock market benchmarks in the short-term, but his personal preference is for smaller, mid-sized companies. He thinks that debt concerns may be a temporary issue and that Reliance is doing well on all fronts. Mehta is positive on the auto industry and expects good earnings from banks and technology companies.

Gold price fell Rs 80 to Rs 55,025 per 10 grams in the national capital on Thursday, according to HDFC Securities. The precious metal had closed at Rs 55,105 per 10 grams in the previous trade. Silver also plunged Rs 390 to Rs 61,955 per kilogramme.

The Nifty Auto index closed 1.83 per cent down at 12781.2.

At 18.8% growth YoY, the number of orders rose to 83.50 million. But, the stock has declined 28% in the last six months, while falling 14% year-to-date.