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The benchmark BSE index down 0.72 percent and the broader NSE index 0.77 percent lower on profit-taking after marking their fourth consecutive record highs. Weak earnings by Maruti Suzuki, ICICI Bank, and cement makers such as ACC Ltd and Ambuja also weigh.
The benchmark 10-year bond yield down 1 basis point at 8.84 percent ahead of the 160 billion rupee ($2.62 billion) bond auction later in the session.
The rupee stronger at 60.73/74 per dollar compared with its close of 61.07/08 on Wednesday, on large dollar inflows from an infrastructure development company.
The benchmark five-year rate up 1 bp at 8.41 percent, while the one-year rate down 1 bp at 8.59 percent.
India's cash rate at 8.65/8.70 percent against Wednesday's close of 7.10/7.15 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)