Benchmark indices ended the day lower, even as European markets were trading with marginal gains after a Turkish coup was reportedly quashed.
ONGC and Oil India both saw sharp drop in their share prices after reports that both the companies face an additional royalty burden of more than USD 1 billion.
Other stocks that fell in trade were Bharti Airtel and Bharat Heavy Electricals Ltd.
Shares in MindTree fell ahead of results to be declared later today. Infosys which fell as much as 10 per cent on Friday, following a poor set of results, managed to gain ground and ended the day higher.
Reliance Industries managed to hold ground in a falling market as the company had reported a good set of quarterly numbers. The stock ended the day marginally higher.
PSU banks finally saw some selling pressure with stocks like Syndicate Bank, State Bank of India and Andhra Bank losing ground. However, the biggest drop was seen in the stocks of Bank of India and Allahabad Bank both of which lost three per cent each.
Meanwhile, the rupee was marginally weak at 67.21 to the USDollar. Check and convert currency rates here