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The 30-share BSE index ended 535.57 points or 1.13 per cent lower at 46,874.36.
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HDFC Bank was the top loser in the Sensex pack, shedding around 2.50 per cent, followed by HDFC, HCL Tech, Tech Mahindra, Sun Pharma, PowerGrid, Kotak Bank, SBI, and Nestle India.
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The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08 per cent to 90.23.
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Around 10.25 a.m., Sensex was at 47,954.05, lower by 393.54 points or 0.81 per cent from its previous close of 48,347.59.
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The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.13 per cent to 90.12.
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Among major earnings to focus on this week are from UCO Bank, Axis Bank, Bank of Baroda, Canara Bank, Hindustan Unilever Limited, Lupin, Maruti Suzuki India and Tata Motors.
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The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.03 per cent to 90.10.
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Bajaj Auto, Asian Paints, Mahindra and Mahindra, Maruti Suzuki and Reliance Industries were top gainers.
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On the domestic equity market front, the BSE Sensex was trading 277.80 points or 0.56 per cent higher at 50,069.92.
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Bajaj Fiserv was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank and Axis Bank.
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After touching an all-time high of 49,569.14 during the day, the 30-share BSE index ended 247.79 points or 0.50 per cent higher at 49,517.11.
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The rise in domestic indices came on the back of a positive trend in the global markets along with robust Q3 earnings.
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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.
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It has touched an all-time high of 48,168.22 points. Similarly, the Nifty50 on the National Stock Exchange touched a high of 14,114.15 points
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The past week saw the benchmark indices Sensex and Nifty hitting record levels on a daily basis, buoyed by positive global trends and news around rollout of coronavirus vaccination.
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Apart from HDFC duo, Tata Consultancy Services (TCS), Infosys, Kotak Mahindra Bank, ICICI Bank, and Bajaj Finance were other gainers
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BSE Sensex rose by 117.65 points or 0.25 per cent to close at a fresh lifetime high of 47,868.98
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Sensex settled up by 380.21 points or 0.81 per cent at its all-time closing high of 47,353.75
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Sensex rose 361.93 points or 0.77 per cent to touch an all-time high of 47,335.47 in morning trade; and the broader NSE Nifty climbed 110.55 points
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Around 10.30 a.m., Sensex was trading at 46,867.57, higher by 423.39 points or 0.91 per cent from its previous close of 46,444.18.