The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
The 30-share Sensex provisionally ended up 112 points at 28,555 and the 50-share Nifty closed 24 points higher at 8,561 after hitting a record high of 8,626.95.
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 Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
The Sensex ended up 48 points at 28,386 and the Nifty gained 13 points to close at 8,476.
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.
The Sensex was up 70 points and the Nifty was up 20 points led by SBI on robust Q2 earnings.
The Sensex ended below 28,000 for the second straight day at 27,869.
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.
The Indian rupee also trimmed most of its early gains and was trading at Rs 61.28 compared to its Wednesday's close of Rs 61.31 to the US dollar.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
Meanwhile, IT index continues to be the top loser down 3.8%. Financial stocks witnessed renewed buying interest at lower levels.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.