The Nifty Realty index closed 1.95 per cent down at 450.4.

“API and CRAMS have at least five to seven years of very good growth and high margin continuing overall. Some of these companies are dirt cheap when compared to the potential that is there in the segment and we are still getting some of these companies at 10, 11, 12 times current year earnings.”

The Nifty Pharma index closed 1.05 per cent down at 12799.95.

The NSE Nifty index closed 198.05 points down at 17758.45

"At this point, the only solace for bulls is the fact that some buying emerged as the index entered into the bullish gap area present between 17,764 and 17,724 levels, registered on August 14, which was defended at least on a closing basis. Therefore, if the bulls fail to defend 17,710 levels in the ensuing week, more weakness is likely," he said.

“Sustained high inflation, unless addressed effectively, could result in unanchoring of inflation expectations and their second order effects," Shaktikanta Das said in the minutes of the central bank's monetary policy meeting held earlier this month. "This necessitates appropriate monetary policy response to prevent upward drift in inflation from the target rate."

The option of an early pay-in method is also available. Under this option, shares are transferred from a client's demat account to the clearing corporation concerned's account. If the sale transaction is not executed under the early pay-in mechanism, then those shares are returned to the client's account and the process takes time and involves a cost.