Sector-wise, the BSE oil and gas was hit the most and fell 1.38 percent, followed by IT 1.33 percent, teck 1.19 percent, PSU 0.60 percent, consumer durables 0.58 percent, capital goods 0.36 percent, realty 0.21 percent, FMCG 0.19 percent and banking 0.15 percent.
The BSE Midcap and Smallcap indices was up 0.2-0.3 percent, while the BSE Sensex Next index closed 0.07 percent, well above its traditional benchmark.
After a sharp rise amid volatility in morning trading, the Standard & Poors BSE Sensex closed lower at 57.92 points at 31,213.36 on Thursday, gyrating in a 50-point range throughout the day.
European markets held steady in early trade as polls opened in the United Kingdom general election after a campaign of three phases marred by terror attacks. Shanghai Composite was trading 0.03 per cent higher.
The market sentiment took a short-term reversal in the absence of any meaningful fresh domestic triggers and also concerns of stretched valuation.
Overseas, most Asian stocks gained ahead of a number of news events with global implications.
Major losers were Tata Motors 3.58%, NTPC 2.65%, ONGC 2.28%, ITC 2.05%, L&T 1.60%, Sun Pharma 1.53%, Reliance 1.17%, Bharti Airtel 1.07%, Power Grid 0.93%, Bajaj Auto 0.88%, M&M 0.83% and Hero Motoco 0.70%. Back home, out of the 30-share Sensex pack, 24 scrips ended lower while only six closed higher. Infosys too shed 0.54 percent to Rs 956.30, while Wipro lost 0.06 percent to Rs 548.50.
The BSE market breadth was bullish - with 786 advances and 361 declines. The Hang Seng index rose 0.3 percent, to 26,063.06, while the China Enterprises Index gained 0.4 percent, to 10,649.90 points, the report added.