Stock markets in Shanghai and Shenzhen fell Thursday as brewing, non-ferrous metal and securities stocks took losses.

The Shanghai Composite Index dropped 14.71 points, or 0.72 percent, to close at 2,015.61; while the Shenzhen Component Index shed 103.32 points, or 1.27 percent, to finish at 8,047.52.

Both markets opened lower and traded within a narrow range for most of the morning session as distillers, brokerages and companies tied to the real estate market fared poorly. A wave of sell-offs in the afternoon session gave the markets further room to fall, erasing most of Wednesday's gains.

Agriculture, forestry, animal husbandry and fishery were among the few sectors that were able to escape the downward momentum.

Brewing shares were once again weighed down by Jiugui Liquor Co Ltd, which has been suspended from trading since Monday when toxic levels of plasticizing agent were found in some of its products. Chinese liquor makers tumbled on reports that the Hunan Provincial Administration of Quality and Technology Supervision had launched an investigation into Jiugui. Wuliangye Yibin Co shed 4.65 percent to 27.46 yuan ($4.40).

Real estate shares stepped down after the Ministry of Finance announced that the government was researching ways to extend the pilot property tax program now in place in Shanghai and Chongqing to the rest of the nation. COFCO Property (Group) Co fell 0.53 percent to 3.76 yuan on the day.