ICICI Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Bharti Airtel, Axis Bank, Kotak Bank and PowerGrid. NSE Nifty closed 7.55 points or 0.07 per cent down at 11,527.45.
India's services industry expanded at its fastest pace in eight months in October as new business rose with discounting probably stoking demand, a survey showed on Wednesday.
Services growth at 5-month low in Nov as confidence slumps.
The HSBC Markit Services Purchasing Managers' Index fell to 51.7 in June from May's three-month high of 53.6, in a sign that Asia's third-largest economy is still struggling to climb out of a quagmire of low growth and high inflation.
The breadth, indicating strength of the market was strong
8 out of 12 sectoral indices closed in red with BSE IT and Healthcare indices losing 0.5%.
The BSE Mid-Cap index was currently down 1.25%
Financials were the top losers while oil shares also declined amid weak crude oil prices.
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
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