The S&P BSE Sensex was down 136.65 points or 0.54% to 24,968.86. The index shed 209.92 points at the day's low of 24,895.59 in afternoon trade, its lowest level since 5 June 2014.
Shares of sugar companies surged in trade after the government announced various measures to help the sector.
Indian shares fall nearly 1 percent, heading towards their lowest close since June 4, as index heavyweight ITC slumps on tax hike worries while the Iraq conflict and foreign investor sales-led risk aversion also weight.
Shares of sugar companies surged in trade after the government announced various measures to help the sector.
Indian shares fall nearly 1 percent, heading towards their lowest close since June 4, as index heavyweight ITC slumps on tax hike worries while the Iraq conflict and foreign investor sales-led risk aversion also weight.
India's biggest cigarette manufacturer ITC Ltd slumps 5.5 percent on a media report that government may raise taxes on cigarettes aggressively in the upcoming budget in July, dealers say.
Among other blue-chips, Kotak Mahindra Bank is down 3.8 percent while Infosys falls 2.8 percent.
The market breadth indicating the overall health of the market was negative. On BSE, 1,482 shares fell and 1,324 shares rose. A total of 110 shares were unchanged.
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