The benchmark BSE Sensex languished on across the board sell-off, slumping 1,025 points points or 2.95 per cent in late morning deals crumbled by sharp losses in global markets.
Earlier, the benchmark plunged 1,274.35 points on heavy unwinding suffered after a record-breaking loss on Wall Street after investors fret over rising US borrowing costs.
Selling was led by Realty, Consumer Durables, Banks, Financials, Metal, Industrials, FMCG, Auto, IT, Teck, Power, Telecom, Energy and Utilities.
The second line midcap and smallcap company shares also witnessed heavy unwinding.
The 30-share Sensex was trading lower by 1025.37 points at 33,731.79 at 1115 hrs.
The broader Nifty was also trading below 10,400-level by falling 311.35 points or 2.92 per cent at 10,355.20.
Major loser were Tata Motors 5.19 per cent, Axis Bank 4.78 per cent, Tatamtrdvr 4.16 per cent, Yes Bank 4.08 per cent and HUL 3.65 per cent.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,263.57 crore on net basis while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,163.64 crore yesterday, provisional data showed.
Asian market tanked following a sharp sell-off on Wall Street.
US stocks tumbled yesterday, as interest rates headed higher amid concerns of returning inflation. The Dow suffered its record points fall, erasing all of its 2018 gains.
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