Overnight, the Wall Street closed on a flatter note.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
TCS, Infosys and Wipro were down 0.4-2% each. Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each.
Top losers are Sun Pharma, Bajaj Auto, L&T, ITC, Hero Moto.
The Sensex ended lower on unfavourable cues.
Index heavyweights were the top losers along with bank shares.
The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
The upbeat earnings from Reliance Industries will set the tone for the truncated week ahead
The 30-share Sensex ended up 204 points at 27,215 and the 50-share Nifty ended up 59 points at 8,238.
Participants are eyeing the Bihar elections.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
Among the index heavyweights, Reliance Industries ended down 1.9% while mortage lender HDFC eased 0.2%. FMCG major ITC ended down 1.3%.
Market breadth is positive with 942 advances and 196 declines.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
The government will release the Index of Industrial Production for July 2015 on Friday, September 11, 2015.
After a volatile session, Sensex closed the day 563 points lower
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