india trader
Traders work at a brokerage in Mumbai, India. Reuters

Indian stocks fell on Thursday, tracking weak Asian shares after U.S. tech stocks slumped overnight following a strong rally.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.9 percent, with technology bellwether Samsung Electronics falling 2.9 percent to two-month lows and Taiwan's TSMC down 1.9 percent.

In the U.S., the Nasdaq Composite dropped 1.27 percent as investors shifted to financials and other sectors.

At 0600 GMT, the S&P BSE Sensex fell 0.80 percent at 33,334 while the broader NSE Nifty shed 0.76 percent to 10,282.

Investors were also cautious ahead of the key fiscal deficit and gross domestic product data due later in the day.

Among the top Sensex losers, Cipla fell 1.7 percent, Mahindra & Mahindra dropped 1.6 percent, Kotak Mahindra Bank fell 1.7 percent while Reliance Industries declined 1.4 percent.

The S&P BSE Bankex Index fell about 1 percent and was among the top sectoral decliners.

Tribhovandas Bhimji Zaveri plunged 16 percent after the company reported a 90 percent slump in its net profit in the September quarter.

McLeod Russel India declined 5 percent after a block deal. Around 9.2 percent stake or 10.10 million shares of the company changed hands in a single block deal, Bloomberg reported.

But Steel Strips Wheels jumped 3 percent after the company said it has received a fresh order to supply 6000 truck wheels in Europe for over a period of 12 months.

Healthcare Global Enterprises jumped 5 percent after brokerage firm Goldman upgraded the stock to 'buy' from 'neutral'.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.