The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The 50-share NSE Nifty, however, was little changed, ending 1.20 points down
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
GEM fund managers more overweight on India than ever before says Bofa-ML report.
Experts believe that one should not allocate more than 5-10 per cent of one's equity portfolio to international funds.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
This is the highest closing for both the indices since May 15.
The broader Nifty, after touching a high (intra-day) of 10,555.50 points, finished at 10,539.75, up 84.80 points, or 0.81 per cent.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
Shares of IT companies were in focus with the Nifty IT and S&P BSE IT index gaining more than 2% in an otherwise lower market
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 bigger worry is that the miss for FY19 is likely to be significant even after assuming macro factors such as crude oil prices, rupee, input costs, and interest rates, do not worsen from the current levels, reports Vishal Chhabria.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Most experts said indices would open higher on Monday and rally might sustain for a few sessions
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
Sales expansion also down 4.4%
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
They have put in $14 billion so far in 2014 but this could get slower if the US Fed raises rates; however, there are expectations on compensatory flows.
As many as 142 stocks from the S&P BSE500 index are currently trading below their level of May 12, 2014
Benchmark share indices trimmed intra-day gains after global crude oil prices resumed their downward trajectory after sharp gains on Friday.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
Environment Minister Prakash Javadekar will sign the agreement on behalf of India.
Rally restricted to big stocks; FIIs have hit investment caps in many large companies.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
Most Asian markets were trading weak on Monday.
It was the second straight week of gains for the benchmarks.
Strong MF investments, stemming of FII outflows and positive earnings in Q3 have helped market, say analysts.
Analysts attribute this volatility to selling by FPIs and FIIs.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
Financials were the top losers while oil shares also declined amid weak crude oil prices.