The benchmark indices settled the day flat, marking a fall for the second session after
investors booked profits after a sharp rally in previous sessions.
The fall in stocks was in line with their Asian peers as expectations of a US interest rate hike weighed on market sentiment.
The S&P BSE Sensex closed at 28,832, down 7.34 per cent while the Nifty50 ended the day 8,897, 2.20 points lower.
"The decline in the indexes is not surprising. It was expected that some profit-booking would take place and that is what we're seeing now," said Gaurang Shah, vice president, Geojit Financial Services to Reuters.
"Some caution can also be expected ahead of the state election results," he added.
Shares of Apollo Hospitals fell 5 per cent after a unit of Malaysian sovereign fund Khazanah launched a block deal to sell $160 million worth of shares in the company.
Reliance Industries Ltd rose over 4 per cent in intra-day trade.
Among the other top performers were GAIL whose stock rose over 3 per cent on the BSE.
sourse: businesstoday.in