Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
Auto and realty shares were among the top Sensex gainers.
Sensex gained nearly 0.4% or 96 points at 26087 level while Nifty ended up by 42 points or 0.5% at 7,791.40 level.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
Sensex ended at 26,272 up 125 points and Nifty ended at 7,831 up by 35 points.
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
Indian companies typically have higher return on equity.
Gains were led by index heavyweights with Reliance Industries contributing the most.
Sensex eneded lower on poor perfromance by financials and IT stocks.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
The Sensex ended at a fresh record closing high of 28,889 while Nifty ended at a fresh record closing high of 8,730.
Sensex closed the day 416 points higher.
The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
The 30-share Sensex ended up 248 points at a record closing high of 27,346.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
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.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
Sensex in green, JSW climbs higher.
Asia has opened largely in the green ahead of a raft of Chinese data due during the day.
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
BSE Mid-cap index ended at a record closing high of 10499.86 and CNX Mid-cap index ended at a record closing high of 12672.85 levels.
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
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.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
Markets end higher ahead of Fed outcome, China stimulus
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
Investors booked profits at higher levels despite the growth oriented Budget.
What China's market crash means for India
Several Sensex stocks hits 52-week low in intra-day trade on Monday with financials leading the decline.
Forced to play their home matches in Malaysia due to security concerns, Syria had fallen behind when Robbie Kruse tapped in from close range in the first half but the underdogs refused to buckle to their vastly more experienced opponents.
