In a worldwide trend, investors are becoming more risk adverse, which led to another day of losses for Indian equities on Tuesday, led by the car sector.
As of 05:10 GMT, the NSE Nifty 50 index had down 0.55 percent, to 17,146, while the S&P BSE Sensex had dropped 0.51 percent, to 57,692.61.
The market has been range-bound in recent days and will remain so until inflation affects firm earnings, said Samrat Dasgupta.
In domestic trade, the Nifty's auto and energy indices slid 0.98 and 0.69.
Tata Consultancy Services Ltd experienced its greatest intraday pct loss in more than three weeks, dragging down the Nifty IT index.
The IT giant announced a bigger-than-expected quarterly earnings on Monday despite slowdown in long-term business decision making.