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The Sensex and the Nifty plunged over 1.1 per cent due to profit-booking by investors and on concerns that RBI may keep its policy rates high to control inflation.
Weak global trend following poor economic data in the US and China also impacted the market sentiment.
The 30-share BSE index Sensex was down 240.10 points or 1.12 per cent at 21,133.56 and the 50-share NSE index Nifty was down 78.9 points or 1.24 per cent at 6,2766.75.
All BSE sectoral indices ended in the red. Among them, realty, capital goods, consumer durables and banking indices fell the most by 3.19 per cent, 2.68 per cent, 2.65 per cent and 1.88 per cent, respectively.
NTPC, Bajaj Auto and RIL were the only three Sensex gainers, while the major losers were BHEL, Tata Motors, Tata Steel, SSLT and L&T.
European and Asian shares were down as a report showed China's manufacturing activity probably contracted this month.
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