Bombay Stocks Drop 1.8%

BOMBAY -- Bombay stocks closed lower Tuesday, breaking a three-day winning streak.

The Sensex index shed175 points to settle at 9822.52.

Losers on the index included

L&T

, which shed 4.9%,

Bajaj Auto

, down 3.9%,

HDFC

, down 3.8%, and

HDFC Bank

(HDB) - Get Report

, off 3.7%.

Among the major gainers were

Reliance Communication

, which moved up 3.6%,

Ranbaxy

, up 0.84%,

Hero Honda

, up 0.54% and

Reliance Energy

, up 0.38%.

Geometric Software Solutions

gained 11% on the news that it inked a pact with IBM to jointly provide services assisting clients in accelerating deployment of product lifecycle management solutions.

Era Constructions

rose 5% on the news that it bagged a contract from National Aluminium Company for civil and structural works of a alumina refinery at Damanjoli.

This story was created through a joint venture between TheStreet.com and IRIS.