ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra were among the losers in the Sensex pack.
NSE Nifty slipped 13.95 points to 17,355.30.
Equity benchmark Sensex dropped 127 points on Monday, weighed by losses in index heavyweights Reliance Industries, ICICI Bank and HDFC Bank.
The 30-share BSE index ended 127.31 points or 0.22 per cent lower at 58,177.76, while the broader NSE Nifty slipped 13.95 points or 0.08 per cent to 17,355.30.
Reliance Industries was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra.
On the other hand, TCS, Bharti Airtel, Bajaj Finserv, Tata Steel, Maruti and Kotak Bank were among the gainers.
"Indian equity benchmarks continued to trade in the red zone in the afternoon session.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo closed in the positive territory, while Hong Kong ended in the red.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 423.44 crore on Thursday, as per provisional exchange data.
Photograph: Danish Siddiqui/Reuters
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