Brent dropped 5.62 percent, at one point marking a 14-month low of $56.16 a barrel.
Shares of airlines, oil marketing companies (OMCs) as well as other sectors such as paints and tyres rose in trade on the back of pressure among crude oil prices.
Shares of airlines have risen in trade as a lower crude implies better profitability for such companies. Jet Airways, SpiceJet and IndiGo rose 2-4 percent intraday.
Meanwhile, shares of oil marketing companies (OMCs) also rose as investors bet on fall in crude oil prices.
Tyre companies such as JK Tyre and Apollo Tyres and paint stocks like Asian Paints and Berger Paints were higher.