Benchmark indices witnessed an extremely volatile session with the Sensex and the Nifty seeing sharp cuts intra day only to recover in the last one hour of trade.
The Sensex closed the day lower by 23 points, while the Nifty lost 4 points in trade.
Nestle which fell as much as 5 per cent intra day following the Maggi controversy managed to recover a tad bit and ended down by 2 per cent.
ITC and Hindustan Unilever saw selling pressure in trade on worries that deficient monsoon would hit demand.
Shares in Unitech which fell as much as 50 per cent on Wednesday recovered some lost ground and ended the day 10 per cent higher.
ICICI Bank which dropped as much as 3 per cent over loan worries to select corporates recovered lost ground on short covering. It still ended 1.5 per cent lower.
Eicher Motors fell 4 per cent on stake sale by Volvo in the company. Mid cap stocks ended the day flat with select stocks like IOC and Britannia gaining ground.
The rupee continued to lose ground and breached the 64 levels mark. It was last trading at 64.11 to the dollar.
Meanwhile, markets across Europe were trading with huge losses on worries over the Greece debt crisis.