The NZSX-50 gross index fell 6.39 points to 3,347.89.
In Mumbai share prices closed up 0.66 percent at a record high, driven by buying in pharmaceutical and automobile stocks.
Dealers said investors were turning to pharmaceutical and automobile shares because they were cheaper than other stocks and had been left out of the market's recent bull run.
The benchmark 30-share SENSEX rose 66.15 points to 10,110.97.
"Much of today's buying came through domestic funds who are keen on expanding their portfolios to other sectors," said Sanjay Suratwalla, a dealer at Dalal and Broacha.
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