The S&P BSE Sensex dipped 300 points, or 0.6 per cent, to 48,850 and the broader Nifty50 hovered around 14,800-level. HDFC, Mahindra & Mahindra, Hindustan Unilever, and HDFC Bank fell over 1 per cent, each.
The Nifty sectoral indexes were mixed, with Nifty Financial Services index, down 0.7 per cent, bleeding the most.
The broader markets, meanwhile, continued to outrun their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.1 per cent and 0.4 per cent higher, respectively.
A total of 36 companies, including Asian Paints, Lupin, UPL, Apollo Tyres, Tata Power, and Pidilite Industries are scheduled to release quarterly earnings today.