The benchmark indices ended lower on Tuesday weighed by IT and pharmaceutical stocks amid weak Asian markets.
The S&P BSE Sensex ended at 33,847, down 287 points, while the broader Nifty50 index settled at 10,147, down 98 points.
Among sectoral indices, the Nifty IT index fell 2.8 per cent led by fall in share prices of Wipro, Infosys and Tata Consultancy Services (TCS). The Nifty Pharma index, too, declined 2.9 per cent weighed by Sun Pharmaceutical Industries.
The rupee traded on a weaker note during the day, slipping to 73.82 per dollar in intra-day trade, up from its previous close of 73.56 per dollar due to steady capital outflows and strengthening of the American currency.
Among individual stocks, Asian Paints fell 4.8 per cent lower to Rs 1,142.45 on the National Stock Exchange, after the company reported 14.4 per cent fall in second-quarter profit, which missed analysts' estimates, hurt by higher expenses. Net profit fell to Rs 493 crore ($67.02 million) in September quarter from Rs 576 crore a year earlier, the company said in a statement. Revenue from operations rose over 8.5 per cent to Rs 4639 crore while total expenses rose about 11 per cent in the quarter.
Asian shares slumped on Tuesday as a cocktail of negative drivers from Saudi Arabia's diplomatic isolation to fresh worries about trade wars whacked sentiment across the region.
Selling in Asia erased gains made in rally of the previous two sessions, which were led by China stimulus hopes, with the MSCI's broadest index of Asia-Pacific shares outside Japan dropping 2.2 per cent. Declines in many regional benchmark indexes also exceeded 2 per cent.
South Korea's Kospi and Hong Kong's Hang Seng both fell 3 per cent while Japan's Nikkei lost 2.7 per cent. MSCI's index for the region including Japan hit the lowest level since May 2017.
(with Reuters input)