Gains were led by index heavyweights Reliance Industries and Infosys.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
IIP for November 2015 and CPI for December 2015 will be announced today.
Markets across the globe gained after China Securities Regulator removed its four-day-old circuit-breaker system.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
BSE Bankex and Telecom indices led the fall.
Investors remain cautious ahead of F&O expiry.
Investors will remain cautious ahead of F&O expiry.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
The S&P BSE Sensex surged 217 points to end at 25,736.
Technical rallies and short covering may arise only if the markets break this 500 point band
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
Benchmark share indices opened lower on Monday, amid weak global cues, as investors turned cautious ahead of the US Federal Reserve stance on interest rate.
Investors will keenly watch US Fed meet starting Tuesday
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.
India's GDP for the three-month period ended September 30 grew 7.4%.