The Sensex ended the day lower by 56 points, while the Nifty lost 21 points in trade. Shares in IDFC ended the day flat following a poor set of results by the company.
Nifty stocks that declined were Gas Authority of India, HDFC and Larsen and Toubro. Stocks that gained ground in trade from the Nifty were Cipla, Kotak Mahindra Bank and Bank of Baroda.
IT stocks had a mixed session in trade with TCS and HCL Tech dropping, while Wipro gained ground in trade. Infosys ended the day flat.
Larsen and Toubro which exhibited strength in early morning trade ended the day lower. Heavyweights, Reliance and ITC both ended the day with gains.
Shares in Deepak Nitrite rose a staggering 16 per cent after the company said that it would consider split of shares and bonus issue on May 2.
Select mid cap stocks had a spectacular run in trade with notable among these being Jain irrigation which had a run of 13 per cent and IFCI which rallied 5 per cent.
Banking stocks had a quiet session in trade with Bank of India, Canara Bank among the gainers.
Meanwhile, markets across Asia ended the day lower with the Japanese Nikkei and the Shanghai Composite among the top losers in trade.