Selling pressure was seen in the banking index (bankex) and fast moving consumer goods (FMCG) and metal sectors.
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,491.74 points, was trading at 20,423.25 points in the afternoon session, down 224.05 points or 1.09 percent from the previous day’s close at 20,647.30 points.
The Sensex touched a high of 20,501.92 points and a low of 20,399.24 points during the trade so far.
The S&P BSE bankex plunged 267.02 points, metal index slid by 240.83 points and FMCG index plummeted by 94.34 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading down by 64.45 points or 1.05 percent at 6,055.80 points.