Mumbai: Indian stock markets erased all its gains made during the day amid a largely volatile trade as the NSE Nifty50 traded below the psychological mark of 9,000 points.
The BSE Sensex also slumped over 900 points to traded well below the 31,000 level.
At 3.15 p.m., Sensex was trading at 30,451.11, lower by 938.96 or 2.99 per cent from the previous close 31,390.07.
It had opened at 31,611.57 and has so far touched an intra-day high of 32,047.98 and a low of 30,394.94.
The Nifty50 on the National Stock Exchange was trading 8,930.20, lower by 267.20 points or 2.91 per cent from the its previous close.
Heavy selling was witnessed across sectors led by banking and finance stocks.
On the Sensex, the top gainers so far were Hindustan Unilever, Hero MotoCorp and Power Grip, while ICICI Bank, IndusInd Bank and Bajaj Finance lost the most.