The market extended losses to nearly 1 percent in last hour of trade, weighed by Infosys, HDFC, ICICI Bank, Reliance Industries, Tata Steel, IOC, HCL Technologies and Bajaj Finance that fell up to 4 percent.
The 30-share BSE Sensex was down 312.74 points or 0.94 percent at 32,863.26 and the 50-share NSE Nifty declined 115.20 points or 1.13 percent to 10,080.
Axis Bank has decided to introduce a new tier of 6 percent per annum interest for savings bank customers maintaining balance of Rs 10 crore and above.
Customers will continue to get 3.50 percent per annum for savings deposit balances of less than Rs 50 lakh and 4 percent for savings deposit balances between Rs 50 lakh and less than Rs. 10 crore.
The above rates are effective today.
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