IST, the barometer index, the S&P BSE Sensex, dropped 719.24 points or 0.91% to 78,498.81. The Nifty 50 index lost 202.35 points or 0.84% to 23,749.10.
Sagility India hit an upper circuit limit of 5% at Rs 46.09 after a global brokerage firm initiated coverage on the stock with a 'buy' rating and a target price of Rs 52.