The intra-day fall was even larger at 1,741.35 points -- the third biggest ever and highest in over seven years since January 21, 2008, even as Finance Minister Arun Jaitley and RBI Governor Raghuram Rajan, among others, sought to allay the fears and said fundamentals of Indian markets remain strong.
The BSE's 30-share index closed the day at 25,741.56 points, down 5.94 per cent (1624.51 points), as stocks across all sectors including energy, banking, auto, IT, infrastructure and real estate saw massive selling as investors turned jittery amid a global carnage.
The broader 50-share NSE Nifty too witnessed heavy selling pressure and plunged by 490.95 points to 7,809.00.
Asian markets were also in deep red with Shanghai shares closing more than 8 per cent down, while European shares were also down close to 3 per cent in their early trade.