The BSE Sensex declined 325.78 points, or 0.42 per cent, to settle at 76,909.68.
During the trading session, the index swung between a high of 77,347.81 and a low of 76,822.89, recording an intra-day movement of 524.92 points.
Similarly, the Nifty witnessed selling pressure, falling 76.60 points, or 0.32 per cent, to close at 24,078.30.
Among the Sensex constituents, HCL Tech, Eternal, Kotak Mahindra Bank, Sun Pharma and Titan emerged as the major gainers.
On the other hand, Power Grid, Bajaj Finance, Larsen & Toubro (L&T), ITC and Hindustan Unilever were among the major laggards.