At 09:18 am, the S&P BSE Sensex was trading 29.43 points lower at 34,587.21.
Indian shares rose on Monday, with software services exporter Tata Consultancy Services (TCS) crossing $100 billion in market capitalisation, which helped boost sentiment in IT stocks.
Shares of Indiabulls Housing Finance Company gained as much as 2.1 per cent to Rs 1,385 on strong Q4 profit.
The Nifty50 closed higher by 20.65 points or 0.20 per cent at 10,584.70 points, while the Sensex closed at 34,450.77 points - up 35.19 points or 0.10 per cent.
Global markets were weak today as a rise in U.S. bond yields to 3 per cent and warnings from bellwether USA companies of higher costs drove fears that corporate earnings growth may peak soon.
Amritsar-Delhi Air India hits severe turbulence mid-air; three passenger injured
It lasted nearly half of the 30-minute journey with the strongest tremors lasting 10-12 minutes, according to officials. Adding to the fear, a couple of oxygen masks had also deployed and the overhead panel cover of seat 12-U got cracks.
Sectoral indices, led by realty, FMCG, auto, banks and consumer durables, were trading in the positive zone with gains of up to 0.93 per cent.
The 30-share barometer rose 147.25 points (0.42 percent) to 34598.02.
Financial stocks dropped today, with HDFC Bank and ICICI Bank dragging down the indexes.
Market breadth was negative with 1,080 advances against 1,341 declines. The yield on the 10-year Treasury note rose to 2.99 percent from 2.98 percent.
Oil prices slipped back from near 3-1/2-year highs as talks between U.S. President Donald Trump and French President Emmanuel Macron eased concerns Washington may reinstate sanctions against Iran, although Trump refrained from committing to staying in a 2015 nuclear deal.
In terms of investments, provisional data with the exchanges showed that FIIs sold scrip worth Rs 680.99 crore, while the domestic institutional investors purchased stocks worth Rs 508.55 crore. In the broader market, the BSE Midcap and the BSE Smallcap indices remained little changed.