Meanwhile, Asian indices traded marginally higher as market participants watched for developments on the US-China trade front ahead of high-level negotiations.
The government led by Prime Minister Narendra Modi has unveiled various measures to arrest the falling growth -- from rolling back of higher tax surcharge for foreign investors to mega reforms in the public sector banking space.
Global markets also turned cautious ahead of the two-day meeting of US Federal Open Market Committee. Many experts said the Fed may cut interest rate by 25 basis points.
The MSCI's broadest index of Asia Pacific shares outside Japan added 0.1 per cent. The Shanghai Composite Index was up by 0.4 per cent, South Korea's KOSPI rose by 0.7 per cent and Japan's Nikkei was up by 0.4 per cent.
The Shanghai Composite Index added 0.45 per cent while MSCI's index of Asia-Pacific shares outside Japan gained 0.5 per cent. But sentiment in the wider region remained subdued amid worries about a global recession.
Among the other prominent losers were Tata Steel, ICICI Bank, UltraTech Cement, Titan, Indian Oil Corporation and Tata Motos which lost between 4 and 4.5 per cent each. Heavyweight Reliance Industries plunged by 3.8 per cent while Jindal Steel lost by 3.6 per cent.
Hong Kong's Hang Seng was down by 0.1 per cent after anti-government protests. The Shanghai Composite Index fell by 0.05 per cent but Japan's Nikkei moved up marginally by 0.09 per cent.
Among stocks, Indiabulls Housing Finance dropped by 4.2 per cent to Rs 437.80 per share. Private lenders Yes Bank and ICICI Bank also slipped by 2.8 per cent and 0.9 per cent respectively. The other prominent losers were HDFC, Britannia, Grasim, Hero MotoCorp and Bharti Infratel.
Mahindra Ideal Lanka will assemble KUV100 with a production capacity of 5,000 units per year. The joint venture company will localise four components -- batteries, tyres, seats and exhausts.
The company posted earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 2,048 crore, down 38.5 per cent from Rs 3,330 crore in Q1 FY19.