The 30-sahre BSE index fell 587 points or 1.1 per cent to close at 52,553; while the broader NSE Nifty settled 171 points or 1.07 per cent lower at 15,752.
HDFC Bank was the top laggard in the sensex pack falling up to 3.18 per cent after the lender reported a quarterly profit that missed expectations on Saturday as bad loan provisions rose and asset quality deteriorated.
IndusInd Bank, HDFC, Axis Bank, Bajaj Finance, Maruti and Kotak Bank were the other major losers on the BSE index.
Whereas, NTPC, Nestle India, Dr Reddy's, Sun Pharma and ITC were the only gainers rising as much as 2.18 per cent.
On the NSE platform, sub-indices Nifty Private Bank, Financial Services, Bank and Auto falling up to 2.04 per cent.
"Domestic equities do not look to be inspiring as of now. Subpar June quarter performance reported by HDFC Bank during the weekend along with visible stress in asset quality can weigh on overall financials," Binod Modi Head-Strategy at Reliance Securities told news agency PTI.
On the global front, Asian shares fell across the board, as pessimism took hold following rising Covid-19 infections regionally and Wall Street's first weekly loss following three weeks of gains.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 466.30 crore on Friday, as per provisional exchange data.
(With inputs from agencies)Watch Sensex dives 587 points as banking, financial shares plunge; Nifty settles at 15,752
Sensex dives 587 points as banking, financial shares plunge; Nifty settles at 15,752 - Times of India
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