The NSE Nifty is down 79 points at 4,354.
ICICI Bank has slumped 7.7% to Rs 671. HDFC has tumbled 7% to Rs 2,190, and HDFC Bank has plunged 6.8% to Rs 1,131.
Reliance has dropped 5.5% to Rs 2,181. Jaiprakash Assocaites has shed 4% at Rs 164.
Reliance Infrastructure has slipped 3.7% to Rs 989, and DLF has declined 3.3% to Rs 490.
Tata Motors and Larsen & Toubro are down around 2.5% each at Rs 428 and Rs 2,644, respectively.
SBI, Grasim, Ambuja Cements and BHEL are down around 2% each at Rs 1,445, Rs 1,790, Rs 81 and Rs 1,690, respectively.
Bharti Airtel has gained 2% at Rs 815. Satyam has moved up 1.8% to Rs 376.
Hindalco, Wipro and Hindustan Unilever are up over 1% each at Rs 153, Rs 412 and Rs 230, respectively.
The market breadth is fairly negative - out of 2,183 stocks traded so far, 1,341 have declined, 785 have advanced and the rest are unchanged.
