Pharma major Lupin and mortgage lender HDFC were the top losers.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
The broader markets are outperforming the benchmark indices.
Oil and gas sectot may not put up good numbers in Q4.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
On the Sensex chart, SBI was the top gainer, rallying around 4 per cent, followed by Bharti Airtel, Reliance Industries, HDFC Bank, ITC, Axis Bank and NTPC. NSE Nifty advanced 78.70 points to a fresh closing peak of 14,563.45.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
UK operations of several Indian companies might take a hit.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
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.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
Investors booked profits in recent gainers
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
Arbitrage schemes can give investors better post-tax returns than debt funds.
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
BSE Power, Healthcare, Capital Goods, FMCG and Metal indices gained between 0.6-1%.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
Among the index heavyweights, Reliance Industries ended down 1.9% while mortage lender HDFC eased 0.2%. FMCG major ITC ended down 1.3%.
The positive bias was aided by metal, realty and auto indices
Markets snapped two-day losing streak and ended flat with a positive bias on Tuesday as gains in auto shares helped offset losses in IT majors.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
Sensex ended up 41 points at 29,136 and Nifty gained 4 pts to 8,809.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
Stocks reeled under huge losses on Thursday as the benchmark Sensex plunged sharply by over 465 points, the biggest single-day fall in three months, after India carried out "surgical strikes" on Wednesday night on terror launch pads across the Line of Control.
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Last fortnight, 206 companies from the BSE-500 hit 52-week lows as investors sold heavily in counters with dimmed prospects.
The 30-share Sensex provisionally ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
