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Continuing debt worries from Europe weakened the US markets. The Dow Jones Industrial Average was down 1.4 per cent, the S&P 500 tumbled 2.1 per cent, and Nasdaq dropped 2.5 per cent.
The domestic markets too slipped on the back of profit-taking. The Sensex slipped 1.57 per cent and the NSE's S&P CNX Nifty 1.41 per cent.
Among the ADRs, Wipro Technologies and Infosys (Infy) witnessed the maximum fall after Infy came out with disappointing financial performance for June quarter. Wipro ADR crashed 9.6 per cent at $12.2 over the previous week close of $13.61 while Infosys slumped 8.7 per cent at $61.39 ($67.21). Tata Motors tumbled 4.4 per cent at $22.66 ($23.7). The company said its global sales declined nearly one per cent in June. Tata Communications dwindled 4.1 per cent at $9.09 ($9.46). Department of Telecom had raised objections to a company's proposal for increasing public holding citing dispute over hiving off of company's surplus land.
Dr. Reddy's Lab, which received final nod from the USFDA to sell product that used for the treatment and prevention of deep vein thrombosis, gained 3.6 per cent.
Rediff.com and Sify resumed their dream run following Google's sales figure. While Rediff jumped 11.8 per cent, Sify skyrocketed by 13.4 per cent.
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