Benchmark indices ended the day lower in trade, as investors remained worried over the latest P-Note Restrictions placed by SEBI.
P-Notes are one of the instruments through which foreign funds investors in the country. They are generally used by hedge funds who are not registered with the SEBI.
Shares in SpiceJet plunged 10 per cent, after the company's quarterly profit took a beating.
However, Karnataka Bank bucked the trend after its net profits for the quarter ending March 31, improved dramatically. The stock ended higher by almost 5 per cent.
ONGC continued to gain ground on a rally in crude prices. Other notable gainers in trade were Vedanta and NTPC.
Shares in Sundaram Fasteners gained ground after the company reported a good set of quarterly numbers.
Midcap stocks also fell in line with the broad markets, with major losers from the space being GMR Infra, IDFC and Engineers India.
Meanwhile, markets across Asia ended the day with gains, while most of Europe was trading higher.
The rupee continued to weaken in trade and was last trading at Rs 67.47 to the US dollar.