The Sensex ended the day lower by 242 points, while the Nifty closed lower by 68 points due to selling in heavyweight banking stocks.
Among the sectors, Power and Banking stocks saw a massive selling pressure, trading down by 1.84 per cent and 1.37 per cent respectively.
Info Edge rose during the trade after the company got approval from the Reserve Bank to raise the limit of foreign shareholding to 50 per cent of its paid-up capital.
Stock ended the day at Rs 756, higher by 0.95 per cent on NSE. It touched an intraday high of Rs 783 during the trade.
DLF rose in trade after real estate developer said that it has established joint venture (JV) with GIC, Singapore's sovereign wealth fund to develop two projects in Central Delhi.
Stock ended the day at Rs 110, higher by 3.96 per cent on BSE. It touched an intraday high of Rs 114 during the trade.
Hero MotoCorp fell after the company reported 13.97 per cent year-on-year decline in sales at 480,537 units in August.
Stock ended the day at Rs 2330, lower by 2.32 per cent on BSE. It touched an intraday low of Rs 2302 during the trade.
The company's motorcycle sales during August surged 2 per cent at 2,90,436 units, as against 2,84,302 units in the same month previous fiscal.
Stock ended the day at Rs 2214, lower by 1.67 per cent on BSE. It touched an intraday high of Rs 2281 and low of Rs 2200 during the trade.
Mahindra & Mahindra reported 1.29 per cent increase in total sales at 35,634 vehicles in August.
Stock ended the day at Rs 249, lower by 1.43 per cent on BSE. It touched an intraday high of Rs 248 and low of Rs 248 during the trade.