SBI was the top loser in the Sensex pack.
Falling the second consecutive session, equity benchmark Sensex dropped over 140 points on Friday, tracking weakness in banking and energy stocks amid a mixed trend overseas.
Investors also remained concerned over persistent foreign fund outflows, traders said.
The 30-share BSE index ended 143.20 points or 0.24 % lower at 58,644.82. Similarly, the NSE Nifty shed 43.90 points or 0.25% to close at 17,516.30.
SBI was the top loser in the Sensex pack, shedding nearly 2 %, followed by M&M, NTPC, Kotak Bank, Bajaj Finserv, HDFC and PowerGrid.
On the other hand, Sun Pharma, Asian Paints, Tata Steel and HDFC Bank were among the gainers.
Of the Sensex constituents, 19 shares closed lower while 11 were in the green.
Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul closed on a firm footing. Chinese markets were shut for the Lunar New Year holidays.
Stock exchanges in Europe were trading on a mixed note in mid-session deals.
International oil benchmark Brent crude surged 1.22 % to $ 92.22 per barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital market, offloading shares worth ₹ 1,597.54 crore on Thursday, according to stock exchange data.