Amid a sustained selloff in the broader market, the Indian equity market valuation has dropped to its lowest level in over 30 months.

The BSE Sensex index fell 329.92 points or 0.43 per cent, closing at 76,190.46. During trading, it declined by 428.63 points or 0.56 per cent to 76,091.75. The NSE Nifty finished at 23,092.20, down by 113.

Foreign portfolio investors turned net sellers on Thursday, offloading shares worth Rs 5,462 crore, while domestic institutional investors picked up shares of Rs 3,713 crore