Shares of IDFC Bank (down 1.44 per cent), State Bank of India (down 1.3 per cent), Kotak Mahindra Bank (down 1.29 per cent), HDFC Bank (down 1.03 per cent) and IndusInd Bank (down 0.88 per cent) were the top losers in the index.
While Federal Bank (up 1.13 per cent) and Axis Bank (up 1.12 per cent) were among the top gainers.
The Nifty Bank index was trading 0.55 per cent down at 23744.1 around 01:17PM.
Benchmark NSE Nifty50 index was down 113.90 points at 11857.15, while the BSE Sensex was down 450.48 points at 40344.26.
Among the 50 stocks in the Nifty index, 21 were trading in the green, while 29 were in the red.
Shares of Vodafone Idea, Ashok Leyland, Tata Motors, YES Bank and Infosys were among the most traded shares on the NSE.
Shares of Oracle Fin, SBI Cards, Asian Paints, Hero MotoCorp and Lakshmi Machine hit their fresh 52 week high in today’s trade, while Mittal Life Style Ltd., Vikas Proppant & Granite Ltd., Sumit Woods Ltd., AB Infrabuild Ltd., Som Distilleries & Breweries Ltd., Coal India Ltd., Motor & General Finance Ltd., Twentyfirst Century Management Services Ltd., Uniply Industries Ltd. and Shrenik Ltd. hit fresh 52 week low in trade.