The Nifty ended the day lower on profit booking despite better than expected inflation and IIP data.
The Sensex lost 159 points in trade, while the Nifty ended lower by 23 points in trade. Leading the set of gainers from the Nifty were stocks like ACC, which gained following reports of a hike in cement prices. Other stocks that gained ground in trade were Bhel, Jindal Steel, Mahindra and Mahindra, Cipla and Hindalco Industries.
Stocks that lost ground in trade were DLF and Jaiprakash Associates. Shares in IndusInd Bank ended flat following a good set of results. PSU banking stocks saw some selling pressure in trade and profit booking after Monday's rally.
Shares in Biocon gained ground after the company completed 10 percent stake sale in Syngene to IVF Trustee.
Oil exploration major ONGC saw its shares drop sharply once again in trade with the stock dropping by almost 3 per cent in trade as Brent Crude continued to slide.
Shares in Natco gained ground after Bristol-Myers Squibb and the company managed to settle a patent dispute.
Meanwhile, markets in Asia ended the day higher while most of Europe was trading with gains.