Lower trend at other Asian markets following a tepid lead from the Wall Street prompted participants to trim their holdings.
Sentiments suffered a jolt after retail inflation climbed to 7-month high in October, dampened hopes of a cut in interest rates by the Reserve Bank at its upcoming policy meet early next month, brokers said.
The BSE Sensex after a better start at 32,990.03, quickly regained the key 33,000-mark to hit a high of 33,126.55 on value-buying at select counters and recovery in the rupee at the outset.
The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60 after shuttling between 10,248 and 10,175.55.
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