Equity benchmark Sensex gave up early gains and tumbled 283 points on Wednesday following losses in index heavyweights Reliance Industries, HDFC and ICICI Bank.
The 30-share BSE index ended 282.63 points or 0.54 per cent lower at 52,306.08. Similarly, the broader NSE Nifty declined 85.80 points or 0.54 per cent to 15,686.95.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by L&T, Tata Steel, HDFC, TCS, Reliance Industries, HCL Tech and ICICI Bank.
On the other hand, Maruti, Titan, Bajaj Finserv and M&M were among the gainers.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul was in the red.
Equities in Europe were largely trading with losses in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.84 per cent higher at USD 75.44 per barrel.