The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Caution prevailed across the bourses ahead of the Union Budget.
IT majors along with metal names Sesa Goa and Hindalco buck trend.
The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
Market breadth on the BSE ended firm as 1,908 shares advanced and 1,156 shares declined
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
The analysis is based on the free-float market capitalisation.
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
The broader markets were marginally higher with mid-caps and small-caps gaining 0.1-0.4 per cent on the BSE.
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
ITC, Infosys, Wipro and HDFC Bank among the major losers.
Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
Reliance Industries and ONGC were down 4-6% each contributing the most to the Sensex losses
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
Weak GDP data and unfaouvrable global data has pulled down Sensex, Nifty.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
'I have made enough money in my life to live in the happiness of my gambit. I don't want to buy a jet plane, I don't want to live with an entourage. So my requirement of taking my wife and children to a foreign holiday in business class is not a worry.' R Madhavan is anything but a Saala Khadoos!
Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
Markets end higher ahead of Fed outcome, China stimulus
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
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.
Markets in green tracking firm global cues.