Brokers said ''Select top heavy weight stocks dropped on profit taking after a sharp rally yesterday, triggered by the Nuclear Supplers' Group (NSG) lifting a 34-year-old embargo on nuclear trade with India.'' The BSE 30-share Sensex was down 187.71 points. Weak Asian markets weighed on the domestic bourses in early trade. The market breadth was negative. Tata Motors lost close to four per cent. Index heavyweights like Reliance Industries, ICICI Bank and Infosys slipped over one per cent each.
Later, the BSE 30-share Sensex was down 187.71 points, or 1.26 pc, to 14,757.26. It hit the low of 14,714.92 in early trade.
The S &P CNX Nifty index of National Stock Exchange (NSE) slipped 53.55 points, or 1.19 pc, to 4,428.75 from the previous day's close.
Among the top losers, Tata Motors lost 3.94 pc to Rs 419.25 on 55,218 shares. It was the top loser from Sensex pack. The stock slipped after the company said yesterday, that the suspension of work at the Nano plant will continue due to limited clarity on the outcome of Sunday's talks between the West Bengal government and the leadership of the Trinamool Congress, which has ended the agitation outside the Singur site.
Sterlite Industries was down 2.63 pc to Rs 606, Bharat Heavy Electricals eased 2.32 pc to Rs 1,749 and Ranbaxy Laboratories came down 2.13 pc to Rs 454.30, edged lower from the Sensex pack.
India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) declined 1.37 pc to Rs 2,103 on 66,536 shares.
India's second largest software services exporter, Infosys Technologies, fell 1.18 pc to Rs 1,727.10. HCL Technologies may reportedly counter bid Infosys for acquiring the UK-based SAP consultant Axon. According to reports, HCL may make an offer in the range of 690 pence per share for Axon compared to Infosys' offer of 600 pence per share.
ICICI Bank, the country's largest private sector bank by net profit slipped 2.49 pc to Rs 702.80.
North India's largest cement maker by sales ACC gained 0.91 pc to Rs 605. It was the top gainer from the Sensex pack.
Among other gainers were Reliance Communications, which was up 0.30 pc to Rs 399.75 and ONGC (up 0.16 pc) to Rs 1,102.