Reuters Market Eye - The BSE Sensex falls 0.18 percent and the Nifty is down 0.27 percent, heading for a second day of falls ahead of the expiry of May derivatives contracts later in the day.
Asian shares and the dollar were pressured on Thursday, undermined by an overnight pullback in global equities as investors assessed the implications of a potential softening of the Federal Reserve's massive monetary stimulus programme.
Lenders such as ICICI Bank Ltd (ICBK.NS) decline 1.9 percent on caution ahead of quarterly economic growth data on Friday.
Oil & Natural Gas Corp (ONGC.NS) falls 2.1 percent after it reported a higher-than-expected 40 percent slump in quarterly profit, as higher taxes, write-offs for dry wells and additional depreciation offset rising sales.
However, shares in Tata Motors Ltd (TAMO.NS) gain 3.7 percent after its quarterly earnings beat estimates, helped by better-than-expected margins at unit Jaguar Land Rover Ltd.
Reporting by Abhishek Vishnoi