Mumbai, Sept. 24 -- The domestic equity benchmarks ended sharply lower on Thursday, weighed down by surging US Treasury yields, higher crude oil prices and increased expectations of another Federal Reserve rate hike. The Nifty closed below the 23,100 level dragged by banks and financial services stocks.

The US 10-year Treasury yield rose to its highest level since 2007, after stronger-than-expected US business activity data. Brent crude moved above $102 a barrel amid renewed US-Iran tensions, while the rupee remained under pressure.

The S&P BSE Sensex tanked 1,247.71 points or 1.67% to 73,580.54. The Nifty 50 index tumbled 383.70 points or 1.64% to 23,063.10.

Bajaj Finance (down 5.87%), Axis Bank (down 4.56%) and Reliance Industries (d...