The NSE Nifty is down 100 points at 4,334.
ICICI Bank has slumped 9% to Rs 661. HDFC has tumbled 7.7% to Rs 2,174, and HDFC Bank has plunged 7.3% to Rs 1,125.
Reliance has dropped over 6% to Rs 2,165. Jaiprakash Assocaites and Reliance Infrastructure have slipped around 4% each to Rs 164 and Rs 987, respectively.
DLF and ONGC have shed 3.3% each at Rs 490 and Rs 994, respectively. Ambuja Cements and Tata Motors have also declined over 3% each to Rs 81 and Rs 426, respectively.
SBI, Maruti and Larsen & Toubro have dropped around 2.5% each to Rs 1,440, Rs 603 and Rs 2,645, respectively.
Grasim, Cipla and Tata Steel are down around 1.5% each at Rs 1,802, Rs 228 and Rs 622, respectively.
Satyam and Ranbaxy have moved up 1.3% each to Rs 374 and Rs 473, respectively. Hindustan Unilever is up 1% at Rs 230.
Out of 2,387 stocks traded so far, 1,428 have declined, 873 have advanced and 86 are unchanged.
