After touching a low of 33,384.75, the 30-share index was trading 362.96 points, or 1.07 per cent, lower at 33,417.93.
Similarly, NSE Nifty dropped 96.90 points, or 0.97 per cent, to 9,876.
IndusInd Bank was the top laggard in the Sensex pack, tumbling around 4 per cent, followed by Tata Steel, Bajaj Finance, ICICI Bank, Axis Bank, NTPC, SBI, HDFC Bank and SBI.
On the other hand, Sun Pharma, Infosys, Nestle India and Asian Paints were among the gainers.
In the previous session, the BSE barometer settled at 33,780.89, up 242.52 points, or 0.72 per cent, and the Nifty rose 70.90 points, or 0.72 per cent, to end at 9,972.90.
On a net basis, foreign institutional investors sold equities worth Rs 1,311.49 crore in the capital market on Friday, provisional exchange data showed.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading on a negative note.
International oil benchmark Brent crude futures fell 2.01 per cent to USD 37.95 per barrel.