Reliance Industries and ONGC were down 4-6% each contributing the most to the Sensex losses
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
Many analysts find market expensive, even at current levels.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
IT shares lost ground tracking a sell-off in tech stocks on Nasdaq on Friday
On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
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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.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
Sensex falls at close; metals, banks perform well.
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The catalyst is the run on emerging market equities, but many investors are just tired of waiting for India to get its act together.
Rediff readers share their Cash Crisis experiences.
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Parekh said divestment can unlock huge funds.
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