The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
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%.
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
BSE proposes two models for making gold trading and investment transparent
SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank. On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
Sun Pharma stole the show in the Sensex pack, spurting 3.91 per cent, followed by M&M at 2.87 per cent.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
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.
Movement of rupee and crude oil prices will also dictate the trend
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
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 session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
BSE Bankex, Healthcare, Capital Goods and Consumer Durables ended higher.
UK operations of several Indian companies might take a hit.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
The 50-share NSE Nifty shed some ground to settle at 8,699.40 points, up 40.30 points, or 0.47 per cent
US stocks rose more than 1% on Tuesday, with the S&P 500 coming less than 2% below its record peak set last month.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
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.
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.
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
Investors booked profits in recent gainers
Bank Nifty closes at a 30-month high; Rate sensitives lead the rally on RBI rate cut optimism.
Markets surged in late trades to snap five-day losing streak led by bank shares.
Broad-based buying aided sentiment and the market registers record turnover at Rs 6.86 lakh crore
Metals bucked the trend and shone across the board.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Participants are eyeing the Bihar elections.
BSE Power, Healthcare, Capital Goods, FMCG and Metal indices gained between 0.6-1%.
BSE auto index surged 2%, capital goods, healthcare and oil & gas indices also up.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.