The Nifty50 index was 0.44 per cent down at the same time.
The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,257.31 points, closed at 35,103.14 points (3.30 p.m.) - down 73.28 points or 0.21 per cent from its previous close. Good Morning!Welcome to Business Standard's live blog on markets.
Among other Asian markets, Hong Kong's Hang Seng shed 0.74%, while Shanghai Composite Index lost 0.26% in early trade on Friday. The market breadth was weak as 1,779 shares fell and 919 shares rose on the BSE.
Among sectoral indices, the Nifty Metal index was trading almost 1% lower led by a fall in shares of Hindustan Zinc and Hindalco.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.26 percent, while the dollar dropped 0.2 percent against the yen to 108.98.
Major laggards were Asian Paints, Sun Pharma, Wipro, Infosys, Coal India, RIL, NTPC, Bajaj Auto, Axis Bank, Maruti Suzuki, Kotak Bank, ICICI Bank, Tata Steel, and HDFC, falling up to 2 percent.
In after-market news, capital market regulator SEBI has allowed exchanges to extend trading hours in derivatives segment to 11:55 PM after opening at 9 AM.
Overseas, investors were cautious after a largely weak performance on Wall Street overnight as some disappointing earnings reports offset strong economic data, while bond yields slid after a surprising slowdown in euro zone inflation.
State-run lender Bank of Maharashtra share price rallied 8 percent after it has reduced its March quarter loss sharply to Rs 113.51 crore on sequential as well as year-on-year basis.
Siemens dropped 2 percent on reporting an 18 percent increase in quarterly profit. The company also raised Rs 1,000 crore through private placement.
PC Jeweller topped the value chart on the BSE with a turnover of Rs. 669.82 million.
On NSE, shares of the company went up by 3.77 per cent to close at Rs 1,256.85.