Benchmark indices Sensex and Nifty halted their three-day rally to close with deep cuts on Thursday, in line with bearish global markets, as participants turned cautious ahead of the RBI policy announcement amid geopolitical uncertainties. Intense selling in metal, IT and capital goods stocks also dampened market sentiment, traders said.

In a bearish session, the 30-share BSE Sensex further dropped 503.76 points, or 0.60 per cent, to settle at 83,313.93. During the day, it tanked 666.07 points, or 0.79 per cent, to 83,151.62.