The broad-based Nifty slipped below the 8,600-level by losing 24.60 points, 0.28 per cent, to 8,590.65
A weak opening of European bourses weighed on sentiments.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks.
Nifty crossed the 5,100 mark and ended up 108 points at 5,140.
At close, both the benchmark indices clocked in robust gains; the Nifty gained 66 points at 5,480, while the Sensex ended off the day's high at 18,206 up 218 points.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) -- an indicator of manufacturing activity -- fell to 49.6, down from 52.3 in November, coming below the crucial 50 threshold which separates contraction from expansion.
The Nifty reclaimed the 5,000-mark and ended up 72 points at 5,013.
The Nifty added 90 points to close at 5,535.
To sell its 26 per cent stake to the Munjals for $1.2 billion.
Pharma major Sun Pharma remained the worst loser in the Sensex pack for the second day in a row after reports that regulator Sebi may reopen the insider trading case against the company.
The 30-share Sensex ended down 339 points at 28,119 and the 50-share Nifty closed 100 points lower at 8,438.
Sentiment took a dramatic change particularly in the last one hour of trading with the lower opening of the European markets and investors booking profits in broader markets at record levels
The rupee fell because of fresh demand for dollar from importers.
Japanese auto giant Suzuki Motor Corporation on Tuesday said it plans to make India an export hub for its small cars, mainly for European and African markets.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
BSE market breadth was marginally negative. Out of 3,094 stocks traded, 1,541 declined while 1,429 advanced.
'Washington senses that the anchor sheet of India's strategic autonomy lies in its longstanding partnership with Russia, which remains firm and immutable despite the changes in world politics in the post-Cold War era,' notes Ambassador M K Bhadrakumar.<
The market breadth was positive. Out of 3,105 stocks traded, 1,773 advanced while 1,211 declined in trades.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
The market breadth too turned negative at close. Out of 3,059 stocks traded on the BSE, 2,071 declined and 883 advanced on Friday.
The NSE Nifty ended at 5505, lower by 38 points. Market breadth is negative, 1802 stocks are declining for 1122 advancing stocks.
The NSE Nifty has settled (provisional)17 points down at 5,256. The market breadth was negative, out of 3,005 shares traded, 1,711 declined and 1,165 advanced on the BSE.
The NSE Nifty shut shop at 5,304, down 70 points.
The Reserve Bank of India is expected to keep policy unchanged this week as it looks to control inflation.
Chinese shares opened lower, with the Shanghai Composite Index down 1.8% and the CSI300 index down 2.2%.
Analysts said that there is some amount of decoupling between India and the rest of world backed by strong growth momentum.
The broader NSE Nifty, after shuttling between 10,600.25 and 10,491.45 points, ended the last session of Samvat 2074 with a rise of 6 points, or 0.06 per cent, to end at 10,530.
The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) -- an indicator of manufacturing activity -- declined from 52.5 in April to a three-month low of 51.6 in May.
The Sensex ended at 17,098, up 45 points. The broader-based Nifty shut at 5,116, up 15 points.
Nifty is up 7 points at 5,415. The market breadth is positive. 1817 stocks have advnaced whike 973 have declined.
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
Dalal Street is expected to open a notch higher tomorrow on the back of strong Asian and European cues when markets open after four-day long holiday. Japan's Nikkei ended 1.33 per cent higher on Monday, while Shanghai closed up 1.51 per cent.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The Nifty ended at 5,353 - up 91 points after touching a high of 5,367. Towards the end of the day, some stocks fell in the red. HDFC Bank, Bharti Airtel and Hero Honda ended with marginall losses at Rs 1,985, Rs 265 and Rs 2,021, respectively.
All indices ened in the green, barring realty and consumer durables. The BSE metal, IT and auto indices were up 1.5% each. The oil & gas index added 1% in trades on Friday.
Market sentiment suffered a jolt after other Asian markets closed with widespread losses and European markets dropped in early trade
National Stock Exchange index Nifty cracked the 5,000-points level to trade at 4,986.45.