The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
As the Sensex continued with its record-breaking show, over 750 stocks hit one-year high levels on the Bombay Stock Exchange on Friday.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
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
Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre, the third reduction in rates this month.
Jet fuel (ATF) rates were on slashed by a steep 12.5 per cent, the sixth straight reduction in prices since August, as international oil prices slumped to five-year low levels.
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 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.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
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.
No casualties were reported.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
Petrol price had been cut 10 times since August 2014.
Petrol prices were on Wednesday hiked by Rs 3.07.
Rebuffing petroleum ministry, Siddaramaiah launches Pradhan Mantri Ujjwala Yojana-like scheme months before state polls
Oil companies on Monday slashed petrol price by Rs 3.02 per litre.
Fuel rates were last revised on February 1 when petrol price was cut by a marginal 4 paise a litre.
Air fares to go up as ATF price is hiked by 8.2%.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Movement of prices in international oil market and rupee-USD exchange rate will be monitored
All listed firms were required to have at least one woman director on their boards from April 1, 2015, as per a Sebi directive.
Oil & gas, banking and pharma sector stocks stole the show
Aviation turbine fuel to now cost more.
Sensex shed 167 points to close at 28,633 and Nifty dropped 55 points to end at 8,695.
The banks says that valuations are reasonable.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
The NSE 50-share Nifty spurted 97.25 points, or 0.92 per cent, to 10,715.50
Costlier oil due to rising conflict in Iraq threatens to hurt the India economy that is already battling price rise and slowing growth.
'Oil companies like IOC, BPCL and HPCL have to set up world class systems where they are always two steps ahead of the crooks,' says Sudhir Bisht, a veteran of the petroleum industry.
After steep correction in valuations, these have turned attractive but upside will depend on diesel price rises and export-parity pricing.
The BSE gauge Sensex fell 73.88 points to 35,548.26 and the NSE Nifty slid 17.85 points to 10,799.85, taking cues from tumbling global shares.
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
As fuel prices surged in September, the government's decision to ask companies to cut price by Rs1 each on a litre of petrol and diesel came as a dampner for private players.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
Financial shares were among the top gainers with HDFC leading the gains.
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