The 30-share index was trading 130.35 points, or 0.33 per cent, lower at 39,626.46.
According to traders, investor sentiment was boosted by initial trends that suggested a win for the ruling NDA.
BSE Sensex rise led by gains in oil and gas, banking and IT stocks, ahead of the general election results.
Stocks that touched 52-week highs include Bajaj Finance, DCB Bank, Federal Bank, HDFC Bank, ICICI Bank, SRF and Titan.
Both the key indices rallied in the last hour of trade after trading on a tepid note through most part of the day.
The BSE gauge Sensex fell 61.88 points to trade at 37,028 in early deals.
Most of the loans including housing loans are benchmarked against MCLR for one year.
The 30-share index was trading 23.96 points, or 0.06 per cent, lower at 37,439.03.
The company had posted a net profit of Rs 124 crore in the January-March quarter a year ago, Dalmia Bharat said.