BSE Mid-cap index ended at a record closing high of 10499.86 and CNX Mid-cap index ended at a record closing high of 12672.85 levels.
The 30-share BSE Sensex closed down 162 points at 28,338 and the 50-share Nifty was down 67 points at 8,463.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
BHEL down around 2.4% and Bharti Airtel down around 1.6% were other major losers.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
US stocks rose more than 1% on Tuesday, with the S&P 500 coming less than 2% below its record peak set last month.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
Markets end higher ahead of Fed outcome, China stimulus
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
The 30-share Sensex lost 54 points at end at 27,086 and 50-share Nifty shed 19 points to close at 8,096.
The Nifty had hit its third successive record high of 7,922.70 today.
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.