The Sensex closed with a huge loss of 1.4% (138 points) at 9,445 owing to profit taking.
The Nifty lost 39 points to close at 2,871.
Ranbaxy was a stand-out gainer today as the stock stood tall in an other-wise weak market. The stock rose to a high of Rs 398, before settling with a gain of 4% (Rs 15) at Rs 394. On the other hand Dr.Reddy's shed 2.5% to Rs 1,033, and Cipla was down 1% at Rs 440.
Nervousness among the investors ahead of the results saw Reliance slip below the Rs 900-mark to touch a low of Rs 889. The stock ended 1.8% lower at Rs 894. Reliance Energy lost 2.7% at Rs 600.
Infosys, which will announce its results tomorrow (a market holiday ) also met with the same fate. The stock declined 1.8% to Rs 2,975. Satyam slipped 2% to Rs 731, and TCS was down 1.2% at Rs 1,672.Wipro, however, rebounded smartly from the day's low of Rs 449 to close almost flat at Rs 460.
HLL shed 2.4% to Rs 188, and ITC was down 1.7% at Rs 143.
HDFC was the major loser today, and the stock fell to Rs 1,221, down 3.3%.
SBI declined 1.7% to Rs 910. HDFC Bank was down 1.2% at Rs 748.
Bharti Tele was down 2.5% at a close of Rs 339. Tata Steel shed 2.2% to end at Rs 372. Larsen & Toubro slipped 1.4% to Rs 1,794.
Gujarat Ambuja gained 1.7% at Rs 87.70. ACC at Rs 539 and Grasim at Rs 1,421 declined over 2% each.
Late buying at the NTPC counter saw the stock surge 1.5% to Rs 116. Tata Power, however, dropped 2% to Rs 453.
Hero Honda tumbled 3% to Rs 846. Bajaj Auto was down 1.8% at Rs 2,014. Maruti declined 1.5% to Rs 651, and Tata Motors was down 1% at Rs 636.