The 30-share index, Sensex, declined by 68.60 points to 17,111.58 points. It had gained about 395 points in the past two sessions.
The wide-based National Stock Exchange index Nifty also slipped below the 5,100-points level and was quoted 19.40 points down at 5,084.15.
Brokers said besides fresh spell of profit-taking in heavy-weight stocks by funds and retail investors after recent gains, losses in other Asian markets, which were down by up to one% in early trade today, also dampened the trading sentiment here.
Stocks of oil and gas, banking and IT sectors, which had registered gains in the past few sessions, reacted to profit-booking.
Reliance Industries fell by 0.76% to Rs 2,178.85, ONGC by 0.46% to Rs 1,181.10, Reliance Infra by 1.24% to Rs 1,080.50, ICICI Bank by 1.29% to Rs 905 and HDFC Bank by 0.89% to Rs 2,812.95.
IT firm Infosys Tech moved down by 0.65% to Rs 2,392 and TCS by 0.65% to Rs 689.60.
However, stocks of Tata Steel, Tata Motors, Hero Honda, Maruti Suzuki and SBI remained in positive zone on continued buying by funds and capped losses.
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