The Sensex and the Nifty fell in trade with both the indices trading in the red on profit booking. The Sensex was last trading lower by 107 points, while the Nifty lose 31 points in trade.
Leading the set of Sensex losers was Cairn India, Coal India, Hero Motor Corp and ITC. Shares in DLF rallied a huge 4 per cent on buying at lower levels. The stock had fallen dramatically in the last few trading sessions.
Software stocks saw some buying interest with notable winners being Wipro and TCS.
Shares in Ranbaxy were trading lower after the firm said that the US FDA has withdrawn tentative approvals for 2 drugs - generic Nexium, Valcyte.
Financial Exchange Technologies was up 2 per cent after reports that the company had withdrawn its entire holding in Energy Exchange.
Meanwhile, markets across Asia were trading higher after record gains seen in the US markets. European markets are also expected to open marginally higher in trade.