The broader markets, however, outperformed the benchmark indices -- BSE Midcap and Smallcap indices ended up 0.6%-1%.
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BSP supremo Mayawati, AIADMK chief Jayalalithaa and Trinamool Congress leader Mamata Banerjee have been at the centre of intense debate in political circles on which way they will go after May 16, the day of election results.
The upcoming July derivatives expiry later in the week would also add some volatility to the market proceedings.
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The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
The 30-share Sensex ended higher by 31 points at 26,591 and the 50-share Nifty gained 10 points at 8,061.
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.
Sanjay Mathur, managing director and head of economics research for Asia Pacific (ex-Japan), Royal Bank of Scotland, tells Business Standard that in the emerging market pack, India needs to learn lessons from Korea and Taiwan, which have managed their economic situations well.
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
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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.
'The threat that India faces and the threat the United States faces is not just to the homeland, but to our people and to our institutions wherever they may be.' In an exclusive conversation with Aziz Haniffa/Rediff.com, US Assistant Secretary of State Nisha Desai Biswal outlines the importance of Prime Minister Modi's visit for America.
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