The Sensex opened with a negative gap of 200 points at 8,901, and soon touched a low of 8,887. The index, thereafter, recovered partially and touched a high of 9,051. The index is now down 109 points at 8,992.
ICICI Bank has slumped 4% to Rs 381, and HDFC has tumbled 3.5% to Rs 1,430.
Tata Power and Grasim have plunged over 3% each to Rs 745 and Rs 1,176, respectively.
Wipro has shed 2.6% at Rs 222. Bharti Airtel and Sterlite have dropped 2.3% each to Rs 601 and Rs 252, respectively.
HDFC Bank, DLF and Mahindra & Mahindra have slipped around 2% each to Rs 892, Rs 185 and Rs 294, respectively.
Hindustan Unilever has gained 2.3% at Rs 252. Hindalco and Tata Motors have rallied nearly 2% each to Rs 50 and Rs 149, respectively.
Jaiprakash Associates has moved up 1.8% to Rs 68. ITC and ONGC are up over 1% each at Rs 670 and Rs 172, respectively.