The benchmark NSE Nifty 50 index was down 0.35% at 17,455.65, 0359 GMT, while the S&P BSE Sensex slipped 0.35% at 58,441.57.
India’s bond and currency markets were closed on Monday due to a public holiday in the state of Maharashtra.
Among stocks, non-bank creditor Bajaj Finance slipped 2% and was a major contributor to the index declines, while the Nifty Auto sub-index fell 1%.
Meanwhile, State Bank of India, India’s biggest creditor, rose 1.7% after reporting a bigger-than-expected third-quarter profit, while its smaller counterpart, Bank of Baroda , jumped 4.9% after more than doubling its quarterly profit.
Steel giant Tata Steel climbed 2.4% after beating estimates for its quarterly profit.