The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The market sentiment was also impacted by mixed global cues as setbacks for a healthcare overhaul in the US raised doubts over prospects for a range of reforms backed by President Donald Trump.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
As per Sebi norms, a public sector listed company should have 10 per cent public float by August 08, 2013.
Investors booked profits in recent gainers
Around 300 promoters serve their company boards for free.
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
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 PM alleged that a 'PC' (percentage commission) culture has become the state government's identity.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
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.
Sensex ends belowe 26,800 on domestic concerns.
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.
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
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 main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
Overnight, the Wall Street closed on a flatter note.
The broad-based NSE Nifty rose 52.80 points, or 0.50 per cent, to end at 10,530.70
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
Over 75 per cent of India's daily coal output has been hit as the five-day strike by workers of state-run miners entered the second day on Wednesday, raising fears of disruption in power supplies.
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
This was the biggest single-day fall for the benchmark index since August 10 when it had fallen by 310 points.
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
Currently, only Coal India, the world's largest coal miner, and its smaller sister PSU Singareni Collieries besides mining agencies of state government are allowed commercial coal mining.