The rupee had gained by 50 paise or 0.75 per cent in two weeks.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Markets will remain closed today on account of voting for the general elections in Mumbai constituencies.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
Mixed global cues and decline in crude oil prices further dent the sentiments.
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
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
The rupee depreciated further by 7 paise to 65.12.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
Global cues lift Sensex 364 points; Nifty ends above 8,650.
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