The Bombay Stock Exchange Sensex on Tuesday fell over 128 points on profit-booking at existing higher levels amid concerns of the monsoon being less than average this year.
The Sensex, which had gained nearly 13 per cent in the last five-day rally, fell 128.52 points at 15,062.49, after moving between 15,234.21 and 14,955.88 points. The decline pared the Sensex's gains this year to 56 per cent, the fifth-best performer worldwide.
The 50-share National Stock Exchange index Nifty also shuttled between 4,524.00 and 4,436.60, before winding up at 4,469.10, showing a net loss of 33.15 points.
Selling pressure gathered momentum as stocks led by Tata Consultancy attracted brisk profit-booking. On Tuesday, TCS lost 4.65 per cent to Rs 477.40.
The benchmark stock index fell most in more than a week after the government expressed concerns that below average monsoon rain could reduce farm output. Mahindra and Mahindra, a Sensex firm and the country's largest maker of tractors, lost 2.59 per cent.
Deficient rain has caused a decline in the acreage of all major crops over last year's levels, denting prospects for bigger harvests of rice, oilseeds and sugarcane. Agriculture accounts for about 20 per cent of the Indian economy.
The information technology sector, which led the upsurge in Tuesday's trading, suffered the most, losing 1.74 per cent to 3,694.03, as segment major Infosys and Tata Consultancy dropped on profit booking.
The power sector index was the second-worst performer, falling 1.70 per cent to 2,829.18, followed by public sector undertakings, which fell 1.40 per cent to 8,087.39.
The teck index fell 1.40 per cent to 2,801.55, banking 1.39 per cent to 8,369.02, realty 1.23 per cent to 3,468.24, oil and gas 0.99 per cent to 9,436.61 and FMCG 0.85 per cent to 2,466.48.
However, the metal sector index bucked the general weak trend by gaining 1.25 per cent to 11,512.01 and auto 0.11 per cent to 5,161.06.
The smallcap index gained 0.24 per cent to 5,837.82 while midcap index fell by 0.19 per cent to 5,225.21.