In see-saw trading, the Bombay Stock Exchange benchmark Sensex on Tuesday lost 68 points to fall from the 33-month record levels due to selling in pivotals, led by banking sector.
The 30-share barometer fell 68.02 points, or 0.33 per cent, to 20,407.71 points. The barometer had closed at a 33-month high of 20,475.73 points on Monday.
The broad-based National Stock Exchange index Nifty fell 13.65 points to 6,145.80.
Brokers said selling was more pronounced in financial, metal and FMCG stocks, which had been the star performers in the recent run-up.
The BSE FMCG index fell the most - 1.12 per cent to 3,675.30 points. Conglomerate ITC lost nearly one per cent to close at 173.80.
The banking index fell 0.30 per cent to 14,322.08, after banking major ICICI Bank and HDFC lost up to 1.80 per cent.
The country's largest private lender ICICI Bank fell 0.89 per cent to Rs 1,147.50, while HDFC Bank lost 1.80 per cent to close at Rs 2,448.70.
Mortgage major HDFC fell the most at 2.38 per cent among the 30 index stocks, pulling the barometer Sensex down.
Losers outnumbered gainers, as 18 stocks in the 30-BSE pack were down, while the remaining ended in positive territory.
Marketmen said trading sentiment was somewhat subdued due to heavy profit booking, even as Asian and European markets were in better form.
The downtrend was cushioned, as market leader Reliance Industries climbed Rs 5.35 to Rs 1,023.25 and second most-heaviest Infosys Technologies went up Rs 7.35 to Rs 3,084.05.
The two carry nearly 23 per cent weightage on the Sensex.