The Sensex closed the day lower by 37, while the Nifty gained 3 points in trade.
Among the notable gainers in trade were DLF, Sun Pharma, Gail, Tata Power, Bank of Baroda, Asian Paints and Mahindra and Mahindra.
However, the top gainer from the Nifty stock was Siemens, which rallied more then 5 per cent in trade today. Shares of GMR gained after reports that the Group put its Rs 300-crore five-star hotel at the Rajiv Gandhi International Airport on the block. Shares of the company closed more then 2 per cent higher in trade.
Notable losers from the Nifty in trade today were IDFC, Jindal Steel, Bajaj Auto and Tata Motors. Software stocks which have rallied for the last few trading sessions, saw selling pressure as the dollar continued to strengthen against the rupee. Notable losers from the space were Infosys, TCS and Wipro.
Ranbaxy saw buying interest after the company was upgraded by Nomura. Non index stocks that saw gains were Amtek Auto after reports that the company was set to buy German company Neumayer Tekfor.
Shares of Berger Paints were up after the company was set to announce a strategic decision after close of market hours.
PSU banks saw buying interest at lower levels with Allahabad Bank, Oriental Bank of Commerce, Union Bank of India and Syndicate Bank seeking buying interest. Metal stocks came in for some selling pressure with JSW Steel, Jindal Steel and Hindalco losing ground.
Meanwhile, markets in Europe were trading marginally lower with the German DAX, French CAC and the UK's FTSE all lower.
Indian indices are set to now take cues from the inflation data due this week and from the RBI credit policy next week.