The top loser of the index, YES Bank, finished 3.30 per cent down, followed by RBL Bank (down 2.11 per cent) and Federal Bank (down 1.82 per cent).
IDFC Bank (down 1.83 per cent), Kotak Mahindra Bank (down 1.66 per cent), Axis Bank (down 0.92 per cent), HDFC Bank (down 0.75 per cent) and IndusInd Bank (down 0.63 per cent) also settled in the red.
The 50-share Nifty pack tanked 80 points or 0.75 per cent to settle at 10,517 on Monday, with 15 stocks in the green, 33 in the red and 2 unchanged.
The Sensex plunged 232 points or 0.67 per cent, finishing the day at 34,616. The 31-stocks kitty saw only 6 stocks advancing, while 25 declining.
Dr. Reddy's Laboratories, Sun Pharma, UPL, YES Bank, Zee Entertainment, Cipla, Tata Motors, Titan and Tata Steel remained the top Nifty losers of the day.
Nifty Realty finished the day as the top sectoral loser on NSE, followed by pharma and auto.