The derivatives expiry on Thursday is also expected to add to the volatility.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
Capital infusion of $30 bn over two years needed amid high dividend payouts and impairment ratios.
In the longest losing streak of 2017, the BSE Sensex has lost 1,270 points, or 3.91 per cent. It fell to a three-month low of 31,154.03 on Wednesday.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
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.
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
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.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
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 BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
Balanced funds may be a good option for first-time investors.
Asset managers are betting big on ETFs these days.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
Oil & gas, banking and pharma sector stocks stole the show
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
Even if RBI partially replaces the stock of the high value notes, RBI will have to incur thousands of crores of rupees in cost, say economists.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
The Sensex ended in red on domestic concerns.
The 50-share NSE Nifty shed some ground to settle at 8,699.40 points, up 40.30 points, or 0.47 per cent
Sensex rises, Nifty holds 8,900; FMCG, Pharma shares lead.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
TCS, Power Grid and Infosys are among the top S&P BSE Sensex gainers
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
Whether it is protecting its turf in its core utility vehicle segment through new model launches, or stepping up investment in electric vehicles, the Anand Mahindra-led firm is leaving nothing to chance
The global brokerage firm in March had trimmed the growth forecast to 6 per cent and in June again it revised the growth estimate to 5.8 per cent.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.