The Sensex, after touching a high of 17,425 briefly recovered to a high of 17,555. The index finally ended down 18 points at 17,521. Nifty ended ay 5317 -- down 10 points.
Markets would be looking at the corporate result next to decide direction. The result season kicks off with HDFC on July 11, 2012.
European shares declined as doubts of further monetary stimulus ahead of a key US jobs report pushed investors to book more profits on five straight weeks of gains.
The European Central Bank cut interest rates to a record low on Thursday to breathe life into a deteriorating euro zone economy. In Asia, markets slipped following ECB decision to cut rates.
Japan's Nikkei shed 0.6% to 3,478. Kospi and Jakarta dropped half a per cent each.
BSE metal index slipped 1% to 11,002. Metal shares declined, mirroring cues of the London Metal Exchange.
Jindal Steel & Power, the biggest loser today, declined 3% to Rs 455 on reports that the company has suspended operations at its iron ore mine at El Mutun in Bolivia.
Sterlite dropped 2% to Rs 108, followed by Hindalco and Tata Steel.
Realty index was the biggest loser and dropped 1.2% to 1,775. BSE power, IT and capital goods indices slipped around 1% each.
Meanwhile, FMCG shares rose on the back of news that monsoons had finally arrived in the state.
The southwest monsoon made a further advance
Markets end higher led by metals
Markets end flat amid volatile trade
Markets end flat amid range bound trades
India Inc takes the innovative route to cost-cutting
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