The Nifty fell more than 2 percent on Tuesday as market heavyweight Tata Motors slumped after posting weaker-than-expected earnings, and lenders such as ICICI Bank and HDFC Bank declined.
The index closed down 2.26 percent at 8,108.45, and ended below the 200-day moving average, typically a bearish technical signal for the near-term. The benchmark Sensex ended 1.92 percent lower at 26,304.63.
While Tata Motors was one of the main decliners, ending down 9.84 percent, ICICI Bank and HDFC Bank dropped 2.4 percent and 1.65 percent, respectively.
(Reporting by Samantha Kareen Nair in Bengaluru; Editing by Sherry Jacob-Phillips)