The Indian equities market extended its loss in the afternoon trade with heavy selling pressure seen in banking and oil and gas stocks.
At 12:15 p.m., the 30-share BSE Sensex was down by 425.81 points or 2.88 per cent at 14,351.20. At the day's low it touched 14,315.58.
At the same time, the broader-based S&P CNX Nifty was down by 107.25 points or 2.42 per cent at 4326.30.
The market breadth was negative. On BSE, 896 shares advanced while 1401 declined and 80 remained unchanged.