Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
The Nifty had hit its third successive record high of 7,922.70 today.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
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 event will be telecast on MSM's sports channels -- Sony Six and Sony Six HD in English - and Sony Aath, the network's only regional channel, in Bengali.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
Markets end higher ahead of Fed outcome, China stimulus
Investors booked profits at higher levels despite the growth oriented Budget.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
No more a paper tiger, the Advertising Standards Council of India will partner the Department of Consumer Affairs to enforce better compliance.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
Impact of the slowdown is most visible among promoter/owner-CEOs
Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
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.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
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.
BSE Mid-cap and BSE Small-cap lost 2.5% and 3.1% after oil prices soared
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Sources claim that 68-70 per cent of the workers at Halol are permanent ones, while the balance is tilted towards contractual workers at Talegaon.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
Investors often forget that the movements in indices such as the Sensex reflects the performance of its constituent stocks; nothing else.
India Inc is encouraged by a determined Budget.
FIIs pump in Rs 2,075 crore in past three trading sessions.