The auction was held under the liberalised price discovery rules notified by the government that allowed affiliates of the gas producer to bid and buy natural gas.
The 30-share BSE index was trading 140.79 points or 0.28 per cent lower at 50,114.96.
Similarly, the broader NSE Nifty slipped 31.30 points or 0.21 per cent to 14,758.65.
Vinod Nair, Head of Research at Geojit Financial Services stated that Indian markets witnessed a highly volatile trade due to weak global market and reports of Indo-China border tension.
Reliance said it has completed fundraising from selling minority stakes in Jio Platforms Ltd -- the unit that holds telecom and digital businesses, and Reliance Retail to global investors.
Foreign portfolio investors (FPIs) were net sellers in the capital market as they offloaded shares worth Rs 483.64 crore on a net basis on Wednesday, according to provisional exchange data.