NTPC was the top gainer among the Sensex stocks, rising by 3.53 per cent. Coal India, ONGC and Sun Pharma also rose up to 2.41 per cent.
Participants are keenly waiting for the January IIP.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
The NSE 50-share after moving between 10,309.85 and 10,261.50 on alternate bouts of selling and buying, finished at 10,298.75, with paltry gains of 15.15 points, or 0.15 per cent.
Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
Markets ended lower following expiry of July F&O contracts and sales by foreign funds.
Earning numbers of blue-chips, including ITC and SBI, due tomorrow.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
The NSE Nifty finally settled at 4,625, down 37 points. The market breadth was negative. Out of 2,870 shares traded, 1,150 advanced and 1,656 declined on the BSE on Tuesday.
Markets ended at record closing highs for the second day in a row on institutional buying.
The Nifty had hit its third successive record high of 7,922.70 today.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
The NSE Nifty after shuttling between 10,397.60 and 10,279.35 points, ended 47 points, or 0.45 per cent lower at 10,301.05.
Top gainers in the Sensex pack included Hero MotoCorp, Maruti, M&M, Bajaj Auto, HUL, HCL Tech, Bajaj Finance, ITC, HDFC and L&T, rising up to 7.51 per cent.
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
Refineries, information technology, banks, realty, telecom and power stocks fuelled the Sensex's second largest single-day gain of 714 points this year, taking investor wealth to Rs 178,688 crore (Rs 1786.88 billion). The benchmark had advanced by 928 points on March 25.
Investors started booking profit at record highs in absence of cues from global markets that remained closed for the New Year holiday.
Eight Sensex biggies such as Reliance, L&T, BHEL, SBI and ICICI Bank are among the worst hit.
In the 30-share Sensex constituents, 16 ended lower and 14 gained, helping the benchmark indices trim losses.
Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
For the second straight week, the Sensex rose, notching up a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the week.
Major gainers include L&T, Asian Paints, Vedanta, Tata Steel, Coal India, Infosys, M&M, Adani Ports, Maruti Suzuki, Axis Bank, HDFC, Power Grid, ONGC, Tata Motors, Sun Pharma, ITC, IndusInd Bank, HDFC Bank and SBI
Infrastructure, realty are the current favourites.
Sensex firm on favourable GDP numbers for FY16.
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.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
Weak monsoon forecast rekindled fears of higher inflation.
Tata Motors drove the Sensex rally for the second session in a row, surging over 8 per cent. Other top gainers were Bharti Airtel, TCS, Bajaj Finance, PowerGrid, IndusInd Bank and State Bank of India -- rising as much as 5 per cent.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
Bank Nifty closes at a 30-month high; Rate sensitives lead the rally on RBI rate cut optimism.
Coal India was the biggest gainer on both Sensex and Nifty
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
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.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.