The Sensex and the Nifty ended the day lower trade after witnessing heavy volatility through the day. The Sensex moved in between gains and losses and finally ended the day with losses of 60 points.
Leading the set of gainers from the Nifty were stocks like Hindalco, Wipro, DLF, Larsen and Toubro and Tata Motors. Stocks that lost ground in trade were Bharti Airtel, Dr Reddy's, Hindustan Unilver and ITC.
Shares in Sun Pharma and Ranbaxy gained ground in trade after both the companies announced that they had received nod for merger of their companies.
Mid cap stocks also saw a rally in trade with stocks like Bharat Forge gaining ground after the company reported a good set of results. Other stocks that gained ground in trade were Unitech, UPL and Voltas.
Banking stocks were marginally higher ahead of the RBI's Monetary Policy to be held later tomorrow. PSU banking stocks like Bank of Baroda lost ground, while Punjab National Bank and State Bank of India ended the day flat.
Meanwhile, markets across Asia ended the day with losses while most of Europe was trading higher on hopes of a debt deal with Greece.