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Financials were the top losers while oil shares also declined amid weak crude oil prices.
IT exporters were the top gainers amid a weak rupee along with select index heavyweights.
Capital Goods shares ended mixed on the back of weak IIP numbers. L&T ended down 0.7% while BHEL ended with marginal gains.
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Metal shares were the top gainers with Hindalco up over 5%.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
Markets shrugged off RBI's neutral stance on key policy rates.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
Sensex in green, midcaps, smallcaps fail to show up; bluechips rule.
The 30-share Sensex ended down 224 points at 28,442 and the 50-share Nifty ended down 101 points at 8,606.
Sensex ended up 190 points at 25,519 and Nifty climbed 57 points to end at 7,626.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
Sensex, Nifty put up a good show in closing trade.
The broader markets ended firm with mid-caps and small-caps gaining nearly 0.5 per cent on the BSE.
The broader markets were firm with mid-caps and small-caps gaining 1-1.4 per cent on the BSE.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
The FMCG index gained more than 1% on the back of stellar gains in ITC.
The broader markets traded positively with mid-caps and small-caps rising 0.5 per cent each on the BSE.
The 30-share Sensex ended up 140 points at 28,262 and the 50-share Nifty was up 37 points at 8,551.
A steep decline in the Asian equities after crude oil fell to its lowest since September 2003 dented sentiments.
Investors accumulated quality stocks at valuable and attractive levels.
BSE Bankex and Telecom indices led the fall.
So, what does 2016 have in store for the Indian markets? Will they be able to take a giant leap forward in the leap year, and what are the key risks?
Sensex, Nifty have lost about 6%, against 0.5-5% decline in other key Asian indices.
Sensex seems to be under pressure on weak cues.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
The Sensex ended in red on domestic concerns.
Sensex closed 63.82 points higher at 26,851.05 in Muhurat trading; Nifty rises 18.65 points to end at 8,014.55.
The Sensex ended lower on unfavourable cues.
Kotak Mahindra Bank and Vedanta were the top Nifty gainers.