Gains in auto shares helped offset losses in select index heavyweights led by Infosys.
Since the Budget announcement on July 5, FIIs have been busy unloading their stock.
Weak monsoon forecast rekindled fears of higher inflation.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Investors will remain cautious ahead of F&O expiry.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
ONGC was the top performer while private banking major ICICI Bank extended gains
Textile and telecom shares have gained ahead of the Cabinet meet later today which is likely to announce new measures for both the sectors.
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.
Infosys was the top Sensex loser along with other index heavyweights ITC and HDFC.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
BSE Midcap and Smallcap indices ended in line with their larger counterparts and closed marginally up 0.2% and 0.4%, each
Sensex, Nifty end lower on global concerns.
The 30-share Sensex ended 79 points lower at 26,909 and the 50-share Nifty closed 25 points lower at 8,102.
Markets ended weak tracking the expiry of April derivative contracts.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
The 30-share Sensex ended lower by 46 points at 27,842 and the 50-share Nifty slipped 17 points to trade at 8,378.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
Markets climb higher tracking global cues.
The broader markets, however, outperformed the benchmark indices -- BSE Midcap and Smallcap indices ended up 0.6%-1%.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
Broader markers outperformed their larger peers.
Metals bucked the trend and shone across the board.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
SBI plunged over 3% after posting a 34.57% fall in net profit to Rs 2,538 crore for the quarter ended September 2016 on rise in provisions for non-performing loans.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
The 30-share Sensex ended down by 59 points at 27,027 and the 50-share Nifty slipped 7 points at 8,087.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
BSE Bankex, Healthcare, Capital Goods and Consumer Durables ended higher.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
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