Sectors such as Auto, Banks, Capital Goods, FMCG, Metal, Oil & Gas and Power are trading marginally lower.
The 30-share Sensex ended down 224 points at 28,442 and the 50-share Nifty ended down 101 points at 8,606.
Markets ended higher for the second straight session mainly on the back of upbeat corporate earnings.
Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
Markets rebound with financials leading the gains on hopes of a peaceful solution to the turmoil in Ukraine
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
Markets extended losses to end 1.5% down on Tuesday, amid weak global cues, after investors turned cautious ahead of key economic data and booked profits in rate sensitive shares while the further fall in the rupee continued to weigh on investor sent.
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.
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.