Benchmarks were witnessing selling pressure as profit booking intensified in banks, auto and oil&gas stocks. Weak European markets also hurt sentiments.
Bombay Stock Exchanges Sensex was at 17059.93, down 125.75 points or 0.73 per cent. The 30-share index touched a high of 17291.83 and low of 17032.81.
National Stock Exchanges Nifty was at 5104.15 down 27.55 points or 0.37 per cent. The index touched a high of 5161.80 and low of 5081.85 in trade so far.
BSE Midcap Index was down 0.23 per cent and BSE Smallcap Index was up 0.30 per cent.
Amongst the sectoral indices, BSE Auto Index was down 1.33 per cent and BSE Bankex slipped 1.20 per cent and BSE Oil&gas Index was down 0.90 per cent.
BSE Healthcare Index advanced 0.48 per cent and BSE Metal Index inched 0.40 per cent higher and BSE IT Index climbed 0.30 per cent.
Reliance Infrastructure (1.64%), Hindalco Industries (1.26%), Bharti Airtel (1.04%), Tata Motors (0.83%) and TCS (0.80%) were amongst the major Sensex losers.
Maruti Suzuki (-2.27%), Hero Honda (-2.23%), Mahindra & Mahindra (-1.94%), ONGC (-1.73%) and HDFC Bank (-1.50%) led the losers.
Market breadth was negative on the BSE with 1342 advances and 1402 declines.
European markets were in the red following profit taking in banks. FTSE 100 was down 0.31 per cent, CAC 40 fell 0.46 per cent and DAX slipped 0.35 per cent.