Reversing its earlier gains, the BSE benchmark index Sensex closed lower by 53 points on fag-end selling in heavy-weight stocks, including Infosys and Reliance Industries.
The 30-share BSE barometer, which had climbed to 18,735.95 points in early trade, fell by 52.67 points, or 0.28%, to settle at 18,579.50 points.
The broad-based Nifty of the National Stock Exchange fell by 13.95 points, or 0.25% to 5,649.50, after touching the day's high of 5,693.70.
Brokers said investors squared up their pending positions following monthly expiry in the derivatives segment.
They said selling pressure was so strong that a better trend in global markets failed to check the falling trend.
Reliance Industries dropped by 1.65% to Rs. 830.20 and Infosys by 1.47% to Rs. 2,548.70. The two scrips carry nearly 18% weightage on the benchmark.
IT stocks were down due to concerns over demand outlook from global markets and the recent rally in the rupee. These companies get over 50% revenue from the US and European markets.
Among 30-BSE index components, 19 stocks fell.
Stocks of refinery, information technology and metal sectors suffered heavy losses.
{{/usCountry}}Stocks of refinery, information technology and metal sectors suffered heavy losses.
{{/usCountry}}Bucking the general weak trend, stocks of fast moving consumer goods and capital goods ended with gains. ITC rose by 1.25% to Rs. 266.50 and Hindustan Unilever by 1.59% to Rs. 536.15.