Market experts believe the retreat is because of uncertainty.
Investor wealth too fell by nearly Rs 7 lakh crore during 2015-16 or over Rs 2,700 crore per trading session.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
China's malfunctioning stock markets remained semi-frozen.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
Consequences of China's efforts to stabilise its equity markets after three weeks of declines, which wiped out some 30 per cent of the value is far more importance to the world, says Clyde Russell.
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
The S&P BSE Sensex surged 217 points to end at 25,736.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
'After multiple days of losses, any relief rally is welcome. However, the trend hasn't changed.'
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
Month-end dollar demand from importers resulted in the rupee touching a new all-time low on Wednesday against the dollar.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
Markets ended lower on Tuesday, snapping a two-day winning streak, as investors turned cautious and booked profit in financials.
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.
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Both the indices ended at their highest levels since February 1.
The broader NSE Nifty moved between 10,705 and 10,785.55, before ending 25.15 points, or 0.23 per cent down at 10,716.55.
Tata Steel, SBI, Infosys and L&T were among the top gainers for the day.
Most Asian markets were trading weak on Monday.
Chinese shares opened lower, with the Shanghai Composite Index down 1.8% and the CSI300 index down 2.2%.
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
Broader market outperformed the frontline indices and also hit their respective all-time highs
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
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.
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