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.
Several Sensex stocks hits 52-week low in intra-day trade on Monday with financials leading the decline.
Shares of L&T Technology Services, an arm of engineering giant Larsen and Toubro, made a decent debut on the bourses
Tata Steel was the biggest gainer in the Sensex pack, rising 3.36 per cent, followed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.
HDFC and Infosys contribute the most to today's rally.
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
Tata Motors (down 1.7%) was the top loser on Sensex and Nifty, while Lupin (1.6%) gained the most.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
The 30-share Sensex provisionally ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.
Infosys, TCS, ICICI Bank and Sun Pharma among the top losers of the hour.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
The 30-share Sensex is down 359 points at 26,378 and the Nifty has dropped 78 points to trade at 7,883
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.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
Markets snapped their 8-day winning streak.
Financials were the top losers after sharp gains in the previous session along with ITC
Top losers are Sun Pharma, Bajaj Auto, L&T, ITC, Hero Moto.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
The Nifty had hit its third successive record high of 7,922.70 today.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
The index had risen over 585 points in the previous three sessions.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
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 30-share Sensex ended 53 points higher at 28,439 and the 50-share Nifty closed 18 points higher at 8,494.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
Both the indices ended at their highest levels since February 1.
