The Sensex is now down 543 points at 13,806.
The NSE Nifty is down 139 points at 4,193.
HDFC Bank has tumbled over 9% to Rs 1,023. ICICI Bank has shed 7.8% at Rs 612. HDFC has dropped 5.7% to Rs 2,096, and SBI have slipped over 6% to Rs 1,332.
Reliance Infrastructure has tumbled 7% to Rs 918. Maruti and Tata Motors have declined over 6% each to Rs 571 and Rs 400, respectively.
Larsen & Toubro has dropped 5.7% to Rs 2,569. DLF has declined nearly 5% to Rs 475.
Hindalco, Mahindra & Mahindra and Jaiprakash Associates are down over 4.5% each at Rs 139, Rs 505 and Rs 154, respectively.
Hindustan Unilever (HUL) and Sterlite have surged 2.6% each to Rs 237 and Rs 598, respectively.
Out of 2,640 stocks traded so far, 1,676 have declined, 892 have advanced and 72 are unchanged.