FICCI says IIP data as per expectation, growth remains fragile

Commenting on the latest index of industrial numbers, Pankaj Patel, President of FICCI, said, "The fall in the manufacturing sector growth is in line with the outlook for the sector as perceived by FICCI's latest manufacturing survey for the fourth quarter."

"It only indicates that the growth remains fragile in manufacturing and need continued efforts to make the sector competitive. Government should continue its reform measures and deepen it in times to come to strengthen the manufacturing sector," he added.

After hitting a record high of 9,273.90 points last week, the National Stock Exchange index has fallen about 0.9 percent as investors wait for corporate results on Thursday.

The Standard and Poors BSE Sensex settled the day at 29,643, down 145 points, while the broader Nifty 50 ended at 9,203, down 17 points.

Tata Steel, Wipro, Adani Ports and GAIL were the top losers on BSE Sensex, while Sun Pharma, Hero MotoCorp, Lupin and Bajaj Auto gained in the day.

Global markets have also been under pressure over North Korea and Syria tensions, further sapping sentiment.