The Nifty Bank index plunged more than 1% on Wednesday, mirroring the broader market selloff.
The index dropped around 626 points, or 1.2%, to 53,089 as of 12:10 pm. Shares of AU Small Finance Bank and IndusInd Bank led the losses, falling around 3%, while IDFC First Bank, Yes Bank and State Bank of India (SBI) declined about 2% each.