Mid- and small-cap shares were also facing selling pressure as Nifty Midcap 100 index dropped 3.87 per cent and Nifty Smallcap 100 index fell 4 per cent.
IndusInd Bank was top Nifty loser, the stock fell 7 per cent to ₹ 860. State Bank of India, Tata Motors, Bajaj Finance, Adani Ports, UPL, Bajaj Auto, Eicher Motors, Indian Oil, Kotak Mahindra Bank, Hero MotoCorp and Axis Bank were among the notable losers.
On the flipside, Cipla, Infosys, Divi’s Labs and Dr Reddy’s Labs were among the notable gainers.
The overall market breadth was extremely bearish as 1,960 shares were declining while 446 were advancing on the BSE.