The 30-share BSE Sensex was down 50.95 points at 31,904.40 and the 50-share NSE Nifty fell 26.30 points to 9,873.30 despite positive global cues. It was weighed down by correction in FMCG, technology, metals and pharma stocks.
HDFC Securities said, "Nifty managed to hold on to 9800 support and now that becomes the base for the short-term.
The broader markets also were under pressure, with the BSE Midcap index falling half a percent on weak breadth. About 1,457 shares declined against 1,263 advancing shares on the exchange.
Kotak Mahindra Bank fell 1.44 percent and Bajaj Auto declined 0.2 percent after disappointing June quarter earnings. ABB India gained more than 6 percent but managed to settle with only 0.4 percent gains post Q2 numbers.
ONGC gained 1.75 percent and HPCL lost 4 percent after the Cabinet gave ONGC in-principle approval to buy government's stake in HPCL.
Bajaj Hindusthan, Dhampur Sugar, Mawana Sugars, Rajshree Sugars, Sakthi Sugars, Shree Renuka Sugars, Simbhaoli Sugar, Triveni Engineering and Ugar Sugar rallied 2-10 percent.
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