The Nifty, too, dropped 121.25 points to 19,632.30.
The equity market remained under pressure for the second straight session in early trade today, as all stocks were in red.
The midcap declined by 0.39 percent, while the small cap rose by 0.08 percent.
In 30 scrips, 25 slipped while 5 rose.
The losers were Tata Steel, which fell by 1.66 percent to Rs 121.25; L&T, by 1.13 percent to Rs 2636.05; Bajaj Finserv, by 0.91 percent to Rs 1558.15; HDFC Bank, by 0.74 percent to Rs 1649.35; and JSW Steel, by 0.72 percent to Rs 814.85.
The gainers were Maruti Suzuki by 0.43 percent to Rs 9757.50, Ultrasemco by 0.34 percent to Rs 8310, Asian Paints by 0.24 percent to Rs 3350, and Powergrid by 0.18 percent to Rs 252.20.
(With UNI inputs)