The Nifty Bank index has fallen below the 55,000 mark, with a major 350-point decline.
When it comes to Nifty, the next important level on the downside for the Nifty is the 61.8% retracement of the rally from the August 29 low to the recent swing high of 25,448, which comes to levels of 24,803. On the upside, 25,000 remains the first barrier.
The larger markets, the midcap and smallcap indices, are trading with losses. The Nifty Midcap index is down close to 400 points. The Nifty Smallcap index to down close to one percentage point.
Some of the biggest losers among the Nifty 500 stocks, including Waaree Energies, Wockhardt Pharma, Caplin Point, Natco Pharma, and Sai Life Sciences are among the losers.
Watch this space for all the live updates.