Equity benchmark Nifty snapped its 2-day winning streak down by 69 points following profit-booking seen mainly in FMCG, IT and infra sectors, while metal and energy stocks were bucking the trend.
Weakness in global stocks also dampened sentiment.
Nifty opened at 8273 indicating no upside for the day with negative bias. Breaking below 8240 levels extended loss and posted a low of 8185 correcting nearly 80 pts from high point of the day.
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In overseas markets, European shares dropped for a second straight day after European Central Bank's president Mario Draghi warned today, that Europe is at risk of suffering lasting economic damage from weak productivity and low growth.
Asian stocks also declined as investors weigh risks amid the Federal Reserve's cautious stance about tightening rates.
The 50-share Nifty resumed almost flat at 8,273.35 and later drifted to 8,184.60 before closing at 8,203.60, showing a loss of 69.45 points or 0.84 pct from last close.
On the sectoral front, FMCG fell by (1.85 pct), IT (1.22 pct), Fin Service (0.79 pct) Auto (0.65 pct), Pharma (0.48 pct) and Infra (0.40 pct).
However, Metal rose by (1.41 pct), Energy (1.40 pct) Media (0.55 pct) PSU Bank (0.19 pct) and Realty (0.16 pct).
Among the index lossers were, Infosys (4.25 pct), Ambuja Cem (2.64 pct), HeroMotoco (2.63 pct), Aurobindo Pharma (2.55 pct) and ITC (2.40 pct).
Index gainers included, ONGC rose by (2.27 pct), Coal India by (2.02 pct), NTPC (1.96 pct), Reliance (1.79 pct), BPCL (1.77 pct) and Cipla (1.65 pct).
A total of 828 stocks declined, 714 advanced, while 95 ruled stable.
Turnover in cash segment rose to Rs 16,684.36 crore, compared to Rs 16,620.74 crore yesterday. A total of 9,829.25 lakh shares changed hands in 71,55,871 trades.
The market capitalisation of NSE stood at Rs 98,61,435 crore.
