Shares of Indiabulls Housing Finance (down 6.76 per cent), Indiabulls Ventures (down 3.20 per cent), Shriram Transport Finance Company (down 3.14 per cent) and Sundaram Finance (down 2.45 per cent) were the worst performers in the index.
Cholamandalam Investment & Finance Company (down 2.44 per cent), Power Finance Corporation (down 1.87 per cent), Kotak Mahindra Bank (down 1.77 per cent) and ICICI Lombard General Insurance Company (down 1.67 per cent) too were trading with losses.
The Nifty Financial Services index was trading 0.93 per cent down at 13,363.75 around 12:41 pm.
Benchmark NSE Nifty50 index was down 66.65 points at 11,898.95 while the BSE Sensex was down 228.60 points at 39,721.86.
Among the 50 stocks in the Nifty index, 10 were trading in the green, while 39 were in the red.
Shares of YES Bank, Dish TV India, Indiabulls Housing Finance, SAIL, PNB, JSPL, Bank of Baroda, Adani Power, Motherson Sumi and Vodafone Idea were among the most traded shares on the NSE.