Reuters Market Eye - The BSE Sensex is down 0.09 percent and the broader Nifty falls 0.02 percent, failing to hold on to earlier gains.
Banking stocks are leading the fall, with State Bank of India falling 2.1 percent and HDFC Bank trading nearly 2 percent lower.
Shares in Tata Motors Ltd are down 2.2 percent after its earnings missed some analysts' estimates.
However, shares in defence equipment makers rallied on media reports of potential increase in foreign direct investment limit in the sector from current 26 percent.
(Reporting by Indulal PM)
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