Tata companies perform well while major firms in emerging markets do badly.
The 50-issue Nifty fell 29.60 points or 0.34 per cent to close at 8,642.55
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
Of the 30-share Sensex pack, 15 today closed in the red
The NSE Nifty also moved up by 12 points to 8,648.35.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
The broader NSE Nifty too dived by 101.65 points, or 0.97 per cent, to close at 10,350.15.
Technical rallies and short covering may arise only if the markets break this 500 point band
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
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.
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.
Most Asian markets ended with gains.
Shares of L&T Technology Services, an arm of engineering giant Larsen and Toubro, made a decent debut on the bourses
The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
Domestic market is losing its trend to rate sensitive stocks post the announcement of the new RBI governor who is likely to maintain a cautious stance on interest rate cut
Benchmark indices finished higher on hopes of economic reforms
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
The UK takeover panel sets January 30 deadline for Tata Steel and CSN to announce revised offer for Corus.
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The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
Construction major Larsen & Toubro invested $160.80 million in its wholly owned unit in the United Arab Emirates for business in financial services.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
Given the region's already higher unemployment rates, compared to national averages, it would be difficult to find alternative jobs.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Top gainers among the S&P BSE Sensex include GAIL, Dr Reddy's Laboratories and Bharti Airtel, all edging up by 1% in late morning deals
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
The total investor wealth, measured in terms of cumulative value of all listed stocks on BSE, slumped by over Rs 7 lakh crore during the torrid week.
In first half of year, firms raise more than banks on low US treasury rates.
'After decades, there is movement on multiple fronts in artillery development. Now let us see how quickly we can get these guns into service'
The BSE IT sector, however, failed to snap a three-day losing streak and closed around 0.14 per cent lower.
This was the biggest single-day fall for the benchmark index since August 10 when it had fallen by 310 points.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
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The 30-share Sensex was up 188 points at 28,415 and the 50-share Nifty was up 58 points at 8,584.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
Market breadth on the BSE ended firm as 1,908 shares advanced and 1,156 shares declined
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