Benchmark indices ended the day marginally lower, as European markets which opened significantly higher saw some selling pressure and were trading with losses.
The Sensex ended the day lower by 65 points at 25,900 points, while the Nifty closed 18 points lower. Leading the set of gainers from the Nifty were auto stocks led by Tata Motors and Maruti. Other stocks that gained ground were Hindalco, Reliance Industries and Tata Steel.
Lupin crashed by 7 per cent, while Dr Reddy's, Sun Pharma and Cipla were the other losers in trade from the pharma space.
Shares in Ashok Leyland were up after the company won defense orders.Real estate major, DLF ended higher after reports that Disney was in talks with the company to open stores in India.
The stock ended up by almost 1 per cent. Banking stocks ended the day mixed with ICICI Bank and Canara Bank among the losers, while Indus Ind Bank and State Bank of India gained ground.
Midcap stocks also saw some modest selling with the index ending the day almost flat. Jindal Steel and Ajanta Pharma were the biggest losers from the space.
Meanwhile, markets across Europe were trading marginally higher ahead of a speech by Fed Chair Person Janet Yellen.