In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
Sentiment was hurt after market regulator Sebi directed bourses to initiate action against 331 suspected shell companies.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
Caution prevailed across the bourses ahead of the Union Budget.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
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 Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
The 30 Sensex companies alone, which are among the biggest companies in the country, now account for nearly 50% or about Rs 47 lakh crore of total investor wealth.
In the broader markets, the mid and smallcap indices were up 0.3% each, underperforming the BSE benchmark index which gained 0.5%.
The breadth, indicating the overall health of the market, turned negative from positive
ONGC, Sesa Sterlite, Tata Steel, RIL and HDFC emerged as the biggest losers
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
The rupee fell to a two-year low of 64.84 against the US dollar.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
Several Sensex stocks hits 52-week low in intra-day trade on Monday with financials leading the decline.
The Sensex has now lost 878.32 points in six sessions -- its longest string of losses in six months.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
Markets snapped their 8-day winning streak.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
For the seven months since February 2014, the benchmark index surged nearly 27%.
Tata Group's CLiQ is the latest to join the e-commerce club, to compete with the likes of Amazon, Flipkart and Snapdeal.
Markets closed in the red on domestic worries.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
The 30-share Sensex gained 117 points to end above 29,000 at 29,006 while the 50-share Nifty gained 32 points to close at 8,761.
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.
Capital goods, IT, auto and pharmaceuticals lead gains for the financial year
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
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.
Foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday