Fag-end selling in bank, IT and auto stocks weighed on the market.
The Nifty's upside looks capped as long as the index fails to get past the 10,140-200 range.
Selling in telecom, capital goods, auto and bank stocks weighed on bourses.
The BSE Oil & Gas was index was trading 0.11 per cent down at 14,649 around 02:10 pm (IST).
At 11:44 am, shares of the company were trading 12.80 per cent lower at Rs 25.20.
The biggest loss the insurer has suffered on any PSU stock is not the scam-hit PNB.
With the tax cuts in place, Fed officials did estimate that growth would accelerate slightly.
More than 30 stocks on the Nifty50 are trading below their 200-DMAs.
Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red.
Experts say the big shift will create new job opportunities in companies with seasonal businesses.
The order book of the company jumped nearly 100 per cent to Rs 24,144 crore.
Retail investors and the employees will be offered a discount of Rs 3 per share.