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The broader Nifty of NSE declined 92.05 points or 0.42 per cent to 22,004.70 as 30 of its constituents dropped and 20 advanced.
Among Sensex shares, PowerGrid fell the most 2.07 per cent.
Bharti Airtel dropped 1.99 per cent amid its subsidiary
HDFC Bank declined 1.11 per cent contributing over 106 points to the total fall in Sensex. Reliance Industries fell 0.88 per cent, adding over 77 points to the fall.
IT major Wipro dropped 1.5 per cent, Infosys 1 per cent and TCS 0.92 per cent and were a major drag on key indices. Kotak Mahindra Bank, UltraTech Cement, and Asian Paints were also among the losers.
“Aligned with global trends, the domestic market sustained its consolidation pattern, ending close to 22,000. While key data such as US GDP and inflation during the week may provide some clues on future rate cut paths, the fiscal year-ending truncated week, coupled with reduced trading volumes and monthly expiry, are likely to contribute to volatility..
“Generally, midcaps are performing well post the consolidation of the last 2-3 weeks, while the IT sector continued to experience sluggishness following weak global IT spending forecasts,” said Vinod Nair, Head of Research, Geojit Financial Services.
In the broader market, the BSE smallcap gauge declined 0.11 per cent while midcap index climbed 0.71 per cent.
Among the indices, teck fell 0.83 per cent, IT dipped 0.57 per cent, bankex 0.51 per cent and financial services 0.26 per cent.
Services jumped 1.48 per cent, realty climbed 1.45 per cent, industrials (0.95 per cent) and oil & gas (0.84 per cent) were among the gainers.
In Asian markets, Tokyo settled lower, while Seoul, Shanghai and Hong Kong ended in the positive territory. European markets were trading mostly in the green. Wall Street ended lower on Monday.
Foreign institutional investors (FIIs) offloaded equities worth Rs 3,309.76 crore on Friday, according to exchange data. Equity markets were closed on Monday for Holi.
Global oil benchmark Brent crude dipped 0.17 per cent to USD 86.60 a barrel.
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