Among the worst hit was Bharat Heavy Electricals, which plunged following a dismal set of Q2 numbers and order book position. The stock ended the day with losses of more than 6%.
Bank of India too came under heavy selling pressure following a disappointing set of profitability numbers and concerns over rise in non performing assets.
Among the S&P CNX Nifty shares that ended with losses were Hindustan Unilever, Tata Motors and Bank of Baroda.
Shares from the Nifty that saw gains in trade were HeroMotor Corp, Tata Power and Reliance. Wipro surged today and was amongst the best performing stocks in the Nifty after UBS upgraded the stock ahead of its results on Friday.
Zee News plunged 4%, after JSPL filed defamation suit against the company for Rs 200 crores.
Banking stocks were weak ahead of the RBI's Monetary Policy Review to decide on rate cuts. Axis Bank, ICICI Bank and State Bank of India all lost ground.
Meanwhile, shares in Asia closed lower, while Europe was trading with losses. Markets are expected to trade volatile on Tuesday ahead of the RBI Monetary Policy Review.