MUMBAI (Reuters) - The Nifty fell as much as 2.1 percent on Monday and headed towards its biggest daily since September 3 as a rout in emerging markets hit blue chips, while lenders were hit further by caution ahead of the central bank's policy review.
ICICI Bank fell 4.5 percent, while HDFC Bank was down 3.5 percent.
Tata Motors fell 6.1 percent after the automaker's managing director, Karl Slym, died when he fell from a hotel room in Bangkok in what police said on Monday could be a possible suicide.
The Nifty was down 2.05 percent at 2:56 p.m., heading for its biggest fall since a 3.8 percent fall on September 3 when domestic shares were hit by worries about military tensions in Syria.
The Sensex lost 2.03 percent.
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)