NEW DELHI: Bank stocks plunged during late afternoon session of Tuesday's trade, dragging the sectoral index into deep red.

The Nifty Bank index closed Tuesday's session 370 points, or 1.49 per cent, down at 24,448.

Shares of Canara Bank (down 5.10 per cent) plunged the most in the Nifty Bank index, followed by Punjab National Bank (down 3.15 per cent), Bank of Baroda (down 3.10 per cent), State Bank of India (down 3.09 per cent), ICICI Bank (down 2.84 per cent), Axis Bank (down 2.30 per cent), Kotak Mahindra Bank (down 1.85 per cent), HDFC Bank (down 1.60 per cent), Federal Bank (down 1.45 per cent), IDFC Bank (down 1.28 per cent) and YES Bank (down 0.66 per cent).

IndusInd Bank (up 1.23 per cent), however, bucked the trend to settle in the green.

Fag-end selling in domestic equity market wiped off nearly Rs 2 lakh crore from investor wealth on Tuesday's trading session. The BSE Sensex tanked 430 points, or 1.27 per cent, to 33,317, whereas NSE index Nifty50 plunged 110 points, or 1.06 per cent, to 10,249.

Bharat Petroleum Corporation, UltraTech Cement, IndusInd Bank, Cipla, Zee Entertainment Enterprises, Indian Oil Corporation, Aurobindo Pharma, Tata Steel and Coal India were the only 9 stocks in the Nifty50 index that closed the day in the green.

Sun Pharma, State Bank of India, ICICI Bank, UPL, Mahindra & Mahindra, Bharti Airtel, Lupin and Axis Bank stood as the top losers in the Nifty50 index.