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Nearly 3.5% drop was recorded in the index so far today. Also, the index erased over 27,000-mark and struggled near 26,650.
The benchmark BSE Sensex fell as much as 1,330 points and Nifty 50 index dropped below its important psychological level of 16,600.
The market decline has worsened since the opening today, with Sensex and Nifty down by nearly 1,500 and 400 points respectively.
Exclusive Q&A with Vishal Saxena, Group CEO for ME, Africa, CIS & Turkey
Shares of billionaire stock investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Co opened at a 6 per cent discount to the offering price.