Markets will remain closed today on account of voting for the general elections in Mumbai constituencies.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
It was the second straight week of gains for the benchmarks.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
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Out of the 30-share Sensex pack, 21 ended lower and one remained unchanged
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
The NSE Nifty after shuttling between 10,441.90 and 10,341.90, ended 6.15 points, or 0.06 per cent down at 10,380.45.
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.
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
At the close, the 50-share NSE Nifty was at 8,611.15, up 19.90 points, or 0.23 per cent, after moving between 8,637.15 and 8,555.20.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
The broader NSE Nifty gained 22 points to 10,480.60
Investors have kept their eyes on US-China trade talks and are optimistic about a positive outcome.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
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