Metals stocks like Hindalco bore the brunt of some large scale selling with the stock tanking almost 6%. Among the other stocks that lost ground today were IDFC, Cairn India and Jaiprakash Associates.

Among the few gainers today were Ranbaxy Laboratories, Dr Reddy's Cipla and HUL.

Global weakness, particularly in Asia saw the indices drift lower. Investors are now waiting for key events during the week including the industrial data to be delivered on Thursday and Infosys' numbers to be announced on Friday.

The markets are mainly expected to take cues from global markets during the course of the week. Concerns on the economy continue to play on the mind of investors, including the fiscal deficit, the current account deficit and high interest rates.

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