Equity benchmark indices closed one per cent lower on Monday as traders booked profits during second half of the session across all sectors.
The BSE S&P Sensex was down by 470 points or 0.96 per cent at 48,564 while the Nifty 50 slipped by 152 points or 1.06 per cent to 14,281.
All sectoral indices at the National Stock Exchange were in the red zone with Nifty metal dipping by 4 per cent, pharma by 2.7 per cent, PSU bank by 2.4 per cent and realty by 2 per cent.
Among stocks, Tata Motors was the top loser with a fall of 6 per cent to close at Rs 244.50 per share.
Tata Steel dropped by 5.8 per cent to Rs 665 per share while Hindalco and JSW Steel cracked by 4.2 per cent each.
The other prominent losers were ONGC, IndusInd Bank, Sun Pharma, Power Grid Corporation, Bajaj Finance and State Bank of India.
However, agro-chemicals manufacturer UPL gained by 6.2 per cent to Rs 555 per share and Reliance Industries advanced by 1.8 per cent to Rs 1,972.80. Titan, HDFC Bank, Eicher Motors and ITC too traders with a positive bias.
Meanwhile, Asian share markets pared early losses as data confirmed China's economy had bounced back last quarter due to a jump in factory output.
China's Shanghai Composite Index edged up 0.84 per cent while Japan's Nikkei slipped 0.97 per cent and away from a 30-year high.
South Korea's Kospi was down by 2.33 per cent as soaring Covid-19 cases offset investor hopes of a quick economic recovery.
( With inputs from ANI )
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