HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
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 Sensex ended above 27,000 for the first time while the Nifty topped 8,100.
The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
Markets ended at record closing highs for the second day in a row on institutional buying.
Gains were led by Tata Motors on robust Q1 earnings and HDFC Group shares.
Auto and realty shares were among the top Sensex gainers.
Markets ended lower following expiry of July F&O contracts and sales by foreign funds.
RIL, ICICI Bank, Tata Motors and ONGC alone contributed to a 100 point cut seen on Sensex.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
Weakness in Infosys, L&T and Hindalco cap index gains.
Markets surged in late trades to snap five-day losing streak led by bank shares.
Investors booked profits at higher levels despite the growth oriented Budget.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
However, IT stocks fell on weak growth forecast by Gartner
Markets ended lower on profit taking ahead of June F&O expiry.
Broad-based buying aided sentiment and the market registers record turnover at Rs 6.86 lakh crore