Equity benchmarks extended losses with the Sensex falling 305.14 points or 1.20 percent to 25032.42 and the Nifty declining 87.40 points or 1.13 % to 7629.10.The market breadth remained weak as about three shares declined for every share advancing on the BSE. The BSE Midcap and Smallcap indices fell more than 1 percent. Banking stocks fall after the Reserve Bank of India revised rules on measuring liquidity for Basel III norms, providing exemption to branches of foreign banks from submitting statement with regard to foreign currency. OBC, Indian Bank, Canara Bank, IDBI Bank, PNB top losers. Shares of Adani Enterprises fall over 2 % after the group offered 49 per cent in its Rs 5000 crore Dhamra LNG project in Odisha to state-run gas utility GAIL India and refiner Indian Oil . The market fell 1 percent in afternoon trade following crash in Europe. The market breadth remained weak as about three shares declined for every share advancing on the BSE. The BSE Midcap and Small cap indices fell more than 1 percent. The Indian Rupee recoups its early losses and is trading lower by 2 paise at 66.60/$. The rupee weakened by 24 paise in early trade on Monday at the Interbank Foreign Exchange market on month-end demand for the American currency from importers and banks. The INDIA VIX is up 7.46% at 17. Out of 1810 stocks traded on the NSE, 1,212 declined, 344 advanced and 254 remained unchanged today. Metals stocks crashed with the Nifty Metal index falling nearly 5 percent. Vedanta and Hindalco Industries tanked 8 percent each followed by Tata Steel with 5 percent loss.