Global sentiment was largely weak with Asian stocks falling as investors fretted about the simmering tensions between the United States and North Korea. "There are some stocks from which investors are shuffling their portfolio out, like pharma ... An element of profit-booking is also coming in which is causing nervousness," said Deven Choksey, promoter, KR Choksey.
Tata Motors shares fell over 8 per cent after the company's 42 percent rise in June-quarter profit, helped by a one-off gain related to changes to Jaguar Land Rover's pension plans, failed to please investors.
Bank of India, GAIL India, and Dr Reddy's Lab also fell sharply, down 4-5 per cent. In the basket of 51 stocks in Nifty index, just 11 stocks managed to end in the green. IT stocks Tech Mahindra rose 2 per cent while Infosys gained 1 per cent. The slide in the value of the rupee, which weakened beyond 64/dollar today, boosted the sentiment in IT stocks, traders said.