The BSE Sensex slumped 0.92 per cent to its lowest level since November 22, while the Nifty was down 0.91 per cent on Monday. Markets headed for a sixth day of fall in seven.
Blue chips extend fall on continued worries about emerging markets. ICICI Bank declined 2.2 per cent while Tata Motors shares were down 2.7 per cent.
Telecom shares fell ahead of the mobile spectrum auction. Bharti Airtel fell 3 per cent while Idea Cellular dropped 0.5 per cent.
Also weighing on sentiment, overseas investors sold Indian shares worth $104.2 million on Friday, provisional exchange data shows.
Copyright Thomson Reuters 2014
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