After opening on a firm note, the Bombay Stock Exchange benchmark Sensex was down by over 75 points in early choppy trade on Thursday on profit-taking by general investors.
The 30 share index (Sensex), which gained 18.06 points at the outset, fell back to quote 75.27 points down at 12,711.50 in the first five minutes of the trading.
Similarly, on the wide-based National Stock Exchange, Nifty shed 24.10 points at 3,709.15.
Stock brokers were cautious ahead of Friday's holiday and preferred to take away profits at higher level.
Heavy-weight banking sector stocks such as State Bank of India, ICICI Bank and HDFC Bank were in the negative territory, dragging the Sensex down.
Other weak counters were Infosys Technologies, Wipro, ITC Ltd, Reliance Industries and Gujarat Ambuja Cement.