Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
Most of the index heavyweights are yet to declare their results.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
the Sensex lost 23 points to close at 28,185 levels and the Nifty shed 7 points to end at 8,515 mark.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
The 30-share Sensex ended down 90 points at 19,429 after hitting an intra-day low of 19,398 and the 50-share Nifty ended down 40 points at 5,881 after touching an intra-day low of 5,871.
ICICI Bank, SBI, Axis Bank and HDFC Bank dipped between 1-2% each.
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 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.
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
For the seven months since February 2014, the benchmark index surged nearly 27%.
No stock on BSE Sensex ended in red while only 3 stocks in the broader Nifty50 index settled the day negative
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Banking and real estate stocks rise up to 5% on further rate-cut hope.
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.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
Month-end dollar demand from importers resulted in the rupee touching a new all-time low on Wednesday against the dollar.
Rate-sensitive sectors like banks, realty and auto witnessed heavy selling pressure ahead of the RBI Monetary policy which is scheduled on September 29.
Urban and rural FMCG sales growth data for the last five quarters show the latter outperformed the former consistently.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
Index heavyweights were the top losers along with bank shares.
Markets shrugged off RBI's neutral stance on key policy rates.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
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The broader markets traded positively with mid-caps and small-caps rising 0.5 per cent each on the BSE.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
The Indian rupee also trimmed most of its early gains and was trading at Rs 61.28 compared to its Wednesday's close of Rs 61.31 to the US dollar.
Oil & gas, banking and pharma sector stocks stole the show
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Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
The 50-share NSE Nifty slipped below the 8,200-mark to touch a low of 8,154.45, but settled at 8,170.80, down 90.95 points, or 1.10 per cent
The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
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.
Sensex gained over 100 points and ended at 26147.33 while the Nifty ended 27 points higher at 7,795.75.
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