The Sensex opened with a huge positive gap of 45 points at 9,417, and moved up to a high of 9,443 in early deals.
Profit-taking at higher levels saw the index shed gains soon after, and drifted into negative zone.
Sustained selling pressure in noon deals saw the index plunge to a low of 9,238 - an intra-day swing of 205 points. The Sensex finally closed with a loss of 115 points (1.3%) at 9,257.
The Nifty lost 30 points to close at 2,805.
HDFC plunged 6.5% (Rs 84) to Rs 1,205. HDFC Bank declined 2% (Rs 14) to Rs 728.
NTPC slumped 4% (Rs 5) to Rs 108. Reliance Energy declined Rs 20 ( 3.2%) to Rs 599. Tata Power dropped over 3% (Rs 14) to Rs 436.
SBI was down 2% (Rs 18) at Rs 892. Reliance declined Rs 13 to Rs 842. While ITC was also down Rs 3 at Rs 139, HLL slipped Rs 2 to Rs 193.
Hero Honda dropped Rs 20 to Rs 850, and Maruti was down Rs 14 at Rs 627.
Grasim slipped 1.9% (Rs 26) to Rs 1,332. ACC declined Rs 10 to Rs 540.
Tata Steel declined over 3% (Rs 13) to Rs 369. BHEL was down 2% (Rs 31) to Rs 1,366. Hindalco and Bharti also declined today.
L&T gained 1% (Rs 16) to Rs 1,748. ICICI Bank moved up 1.3% (Rs 7) to Rs 581. Wipro was up Rs 5 at Rs 465. Ranbaxy, Tata Motors and ONGC finished with gains at Rs 359, Rs 637 and Rs 1,192, respectively.