The Sensex is now down 525 points at 13,824.
The NSE Nifty is down 144 points at 4,188.
The BSE Bankex has tumbled over 8% (554 points) to 6,208.
HDFC Bank has slumped 9.5% to Rs 1,020. ICICI Bank has tumbled nearly 8% to Rs 611. HDFC has shed 6.3% at Rs 2,082, and SBI has slipped 5.7% to Rs 1,337.
Reliance Infrastructure and Maruti has plunged nearly 7% each to Rs 920 and Rs 569, respectively. Mahindra & Mahindra has dropped 6.5% to Rs 495.
DLF has declined 5.8% to Rs 471. Jaiprakash Associates and Tata Motors have slipped around 5% each to Rs 153 and Rs 405, respectively.
Larsen & Toubro and Hindalco have declined 4.6% each at Rs 2,597 and Rs 139, respectively. NTPC has dropped 4.4% to Rs 177.
ACC and Reliance Communications are down 4% each at Rs 569 and Rs 492, respectively. ONGC is down 4.5% at Rs 977.
Sterlite has advanced over 1% to Rs 589.
The market breadth is fairly negative - out of 2,479 stocks traded so far, 1,606 have declined, 800 have advanced and 73 are unchanged.
