Benchmark Nifty declined for the second consecutive session Thursday to close below the 11,000-mark after the US Federal Reserve's rate hike.
September futures and options (F&O) expiry added to market volatility as investors offloaded their long bets instead of carrying them forward to the next series for October, brokers said.
Investors also remained cautious after the government raised import tariffs on select goods and the RBI announced measures to ease liquidity concerns.
Overseas, European stocks declined while Asian shares ended on a mixed note.
The NSE Nifty opened higher at 11,079.80 and shuttled between 11,089.45 and 10,953.35, before ending at 10,977.55, down by 76.25 points, or 0.69 per cent.
It saw an intra-day movement of 136.10 points.
Sector-wise, Realty fell 2.76 per cent, Pharma 1.91 per cent, Auto 1.87 per cent, Private Bank 1.87 per cent, Finance Service 1.67 per cent, Bank 1.32 per cent, Media 0.96 per cent, PSU Bank 0.91 per cent and Metal 0.66 per cent.
However, IT moved up by 0.54 per cent.
Major index gainers were Bharti Infratel, TCS, Coal India, Ultratech Cement and Infosys.
Losers included Yes Bank, Indiabulls Housing Finance, Bajaj Finance, Bajaj Financial Services and Maruti Suzuki.
The market breadth, indicating its overall health, remained negative. On the NSE, 471 stocks advanced, 1,374 declined and 90 remained unchanged.
Total securities that hit their price bands were 282.
Turnover in the cash segment rose to Rs 42,009.69 crore from Rs 35,572.48 crore as on Wednesday.
A total of 17,634.04 lakh shares changed hands in 1,36,50,302 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,44,71,401 crore.
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