ICICI Bank, Hindalco, Maruti Udyog, Wipro, Larsen, Reliance Comm were among the top losers on the indices.
SBI, TCS, Dr Reddy's, Ranbaxy Labs, Dabur India, BPCL, HPCL are among the gainers on the indices.
Sensex was down 235.37 points or 1.55% at 14903.03, and the Nifty down 62.05 points or 1.41% at 4339.50.
About 1240 shares have advanced, 1668 shares declined, and 81 shares are unchanged.
The BSE Midcap Index ended at 6,552.93 down 0.8%.
The BSE Smallcap Index ended at 7,842.59 down 0.6%.
The BSE Bankex was down 1% at 8,055.14. ICICI Bank, IOB, Centurion Bank, HDFC Bank, Federal Bank moved downwards.
The BSE Capital Goods Index was down 2% at 12,739.99. Suzlon Energy, Triveni Engg, Larsen, Bharat Bijlee, Siemens, BHEL closed lower.
The BSE Health Care Index was down 1% at 1,964.27. Orchid Chemical, Opto Circuits, Nicholas Pirama, Divis Labs, Wockhardt, Sterling Bio closed lower.
The BSE Auto Index closed at 4,746.12 down 1%. MRF, Maruti Udyog, Cummins, Escorts closed lower.
The BSE Metal Index closed at 11,139.43 down 1.6%. Shree Precoated, JSW Steel, Hindalco, Jindal Steel, Jindal Saw closed lower.
The BSE FMCG Index closed at 1,945.26 up 0.4%. GlaxoSmith Con, HUL, Bata India, Tata Tea, Britannia closed lower.
BSE Oil and Gas Index closed at 7,719.26 down 1%. Essar Oil, GAIL, ONGC, Reliance, Reliance Petro ended in red.
The BSE IT Index lost 2% at 4,597.82. Mphasis, Patni Computer, Financial Tech, Infosys, Tech Mahindra, Wipro closed lower.
The NSE cash turnover was at Rs 8990.81 crore and the NSE F&O turnover was at Rs 37564.99 crore. The BSE cash turnover was Rs 4313.22 crore. Total market wide turnover was at Rs 50869.02 crore.