The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 47.9 in July, down from 50.9 in June, its lowest mark since February 2009, and highlighted the first deterioration in business conditions in 2017 so far.
Markets will remain closed on Thursday, 12 November 2015 on account of Diwali Balipratipada.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Markets in green tracking firm global cues.
The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
For the seven months since February 2014, the benchmark index surged nearly 27%.
Financials emerged as the top gainers while auto shares rallied on robust September sales
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
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