The market remained under pressure ahead of expiry of March derivative contracts. Banking & financials, healthcare and select technology stocks dragged.
The Sensex dropped 201.98 points to 27909.85 and the Nifty shed 56.30 points to 8474.50. The broader markets too were down; the BSE Midcap and Smallcap indices declined 0.4 percent each.
Nearly two shares declined for every share advancing on the Bombay Stock Exchange.
HDFC topped the selling list, falling 3.5 percent followed by ICICI Bank, Tata Motors, SBI, Wipro, ONGC, Dr Reddy's Labs, Sesa Sterlite and Coal India with over a percent loss.
However, Bharti Airtel gained 1.8 percent post closure of spectrum auction. BHEL and GAIL climbed over a percent.
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