The S&P BSE Sensex slumped over 150 points at 26090 level while the CNX Nifty dipped over 50 points at 7,773 level
Sun Pharma, Ranbaxy, Dr Reddy's Lab, Lupin, Glenmark, Wockhardt and Cadila Healtchare gained 1-8% on BSE.
Expects India to be the second largest issuer behind China in Asia
Investors booked profits at higher levels after gains in the previous eight sessions
Metal for delivery in August edged up by 0.45%