Tata Motors shares plunged more than 5 percent on weak JLR US sales and after US President Donald Trump threatens to a slap retaliatory tariff on European cars.
BEML shares rallied 10 percent after CNBC-TV18 report quoting agencies that the Government of India has given an in-principle approval to sell its 26 percent stake in the company.
The market continued to reel under selling pressure as benchmark indices and midcaps declined around a percent each.
The 30-share BSE Sensex was down 298.35 points at 33,748.59 and the 50-share NSE Nifty declined 107.60 points to 10,350.80.
About four shares declined for every share rising on the BSE.
Hindalco, Tata Motors, Tata Steel, Aurobindo Pharma, Ambuja Cements, Reliance Industries, Vedanta, HUL, ITC and L&T were down 1-4 percent.
TCS, Sun Pharma, M&M, SBI, Tech Mahindra, UPL and Kotak Mahindra Bank were only gainers among Nifty 50 stocks.
Missed call
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