The Sensex fell 876.37 points and the Nifty 50 lost 257.20 points on October 19.
Both indices had gained about 3% the previous week, their best weekly gain in six months.
Axis Bank’s profit narrowly missed estimates, and its shares fell 4.2%.
Crude oil stayed near 108 dollars a barrel.
PSU banks bucked the trend, with the index up 2.5%.
The Nifty 50 fell 257.20 points, or 1.11%, to settle at 22,888.95, according to the same report.
The previous session had closed at 74,729.27 for the Sensex and 23,146.15 for the Nifty 50, according to India TV.
Both indices had rallied about 3% in the previous week, their strongest weekly gain in six months, according to HDFC Sky.
Market breadth was weak, with 2,925 shares declining, 1,163 advancing and 181 unchanged, according to HDFC Sky.
The Nifty Midcap index fell about 1.1% and the Nifty Smallcap index shed about 1%, according to the same report.
The Nifty Private Bank index fell about 1.9%, the Nifty IT index fell 1.3% after a 3.9% gain in the previous session, and the Nifty FMCG index fell 1.4%.
The Nifty PSU Bank index rose 2.5% and was the only major sectoral index to finish higher, according to HDFC Sky.
Axis Bank fell 4.2% after its September-quarter profit narrowly missed analyst expectations, with higher operating expenses and weaker other income offsetting strong credit growth and lower provisions, according to HDFC Sky.
Among other large stocks, LTIMindtree fell 2.8%, Infosys fell 2.63%, Bajaj Finance fell 2.52%, Yes Bank fell 3.5% and Tata Motors Passenger Vehicles fell 3.09%, according to the article text.
Union Bank of India rose about 5.3% and Punjab National Bank rose about 4.8%, according to HDFC Sky.
Punjab National Bank reported net profit up 13% year on year to Rs 5,532 crore, with net interest income up 11% to Rs 11,601 crore and the gross NPA ratio improved by 90 basis points to 2.55%.
Dalal Street sign board, Mumbai (file image), Wikimedia Commons, CC BY-SA 4.0
