The NSE 50-share Nifty fell below 8,700-level by slipping 12 points due to persistent selling pressure mainly in IT sector on fears of US Fed rate hike.
Lower advices from global markets also affected the market sentiment.
"Nifty opened on a positive note with a gain of 12 points at 8,722 levels, after posting day's high of 8,724," said Digesh Shah, Research Analyst of Veracity Financial Services.
"On the sectoral front, metal and auto stocks gained 1 per cent and 0.72 per cent, respectively. While on other hand, we observed selling pressure in IT as well as financial stocks. Thus, to end the session, Nifty ended with a loss of 12 points (or 0.14 per cent) at 8,698 levels," he added.
The Nifty has dropped 71.55 points or 0.82 per cent in three days.
A total of 781 scrips advanced, 841 declined, while 74 remained unchanged. Total securities that hit their price bands were 97.
Major losers were Bharti Infratel (2.73 per cent), Asian Paints (2.06 per cent), Eicher Motors (1.64 per cent), HDFC (1.56 per cent) and Cipla (1.51 per cent).
However, Tata Steel rose by 4.28 per cent, followed by ZEE (3.12 per cent), Tata Motors (2.58 per cent) and Bajaj Auto (2.14 per cent).
Turnover in cash segment fell to Rs 19,352.51 crore from Rs 22,278.94 crore yesterday.
A total of 9,969.14 lakh shares changed hands in 7,242,494 trades.
The market capitalisation of NSE stood at Rs 11,117,769 crore.
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