The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25.
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%.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
The Sensex has now lost 878.32 points in six sessions -- its longest string of losses in six months.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Both the indices ended at their highest levels since February 1.
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 broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
HUL, ITC, Nestle, Colgate, Dabur, Britannia, Asian Paints, P&G are trading at nearly 48 times. The previous record high was 53 times at the end of March 1994.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
Did you know that India is among the top five countries in food processing?
Increase in tax exemption limit by Rs 50000 is positive for the FMCG sector, as it will leave more discretionary income in the hands of consumers.
Dragged down by a massive fall in the stock market, total investor wealth slumped by nearly Rs 3 lakh crore on Tuesday as shares of over 2,200 listed firms ended in the red.
IIM-A saw 36 per cent jump in maximum domestic salary in 2018 placements this year.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
Govt doesn't buy restaurants' input tax excuse and has swing into action and looking into profiteering complaints on social media against prominent restaurant and franchise chains.
The government is scheduled to release index of industrial growth for November and consumer price inflation for December later today.
Apart from the growing adoption of the internet in the country, brands are drawn to the agility of the medium, its targeted and data driven approach and the increasing cost of offline channels for sales and distribution.
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
The lowest FMCG index valuation has been around PE 27, while the highest have been above 42PE.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
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The Council includes companies like Tata Motors, Flipkart, Airtel, P&G, Madison World, ICICI Bank, HUL, Micromax and Future Group among others.
Most offers are coming from regular recruiting firms and sectors led by consulting, analytics, IT and finance.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
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