Insight Bureau: The 30-share BSE Sensex tanked 629 points or 1.09 per cent to 57,283 in early trade, while the broader NSE Nifty moved 176 points or 1.01 per cent down to trade at 17,217.

Mid- and small-cap shares were mixed as Nifty Midcap 100 fell 0.31 per cent and small-cap inched 0.11 per cent higher.

On the stock-specific front, Hindalco was the top loser as the stock cracked 3.01 per cent to ₹ 524. M&M, Eicher Motors, HDFC Life and Dr Reddy’s were also among the losers.

On the 30-share BSE index, M&M, Dr Reddy’s, Nestle India, SBI, Kotak Mahindra Bank, IndusInd Bank, UltraTech Cement and Bajaj Finserv were among the top laggards.

In contrast, HCL Tech, PowerGrid and Bharti Airtel were trading in the green.