Pharma sector was the star performer today as Nifty Pharma index gained 2.2 percent.
DRL, Sun Pharma and Cipla were the top gainers, while Coal India, Kotak Mahindra and Indiabulls Housing lost the most.
The upside in oil & gas, select private banks and metals stocks was offset by fall in ICICI Bank, SBI, HDFC, Infosys and cement stocks.
Coal India, ONGC, GAIL and Tata Power were the top gainers, while ICICI Bank, DRL, and Ambuja Cements were the top losers.
Banking & financials, auto, metals stocks and index heavyweights Reliance Industries (up 0.9 percent) and ITC (1.14 percent) helped the market close higher.
Nifty Bank hit fresh record high as Moody's Investors Service has today upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.
All the sectoral indices on the National Stock Exchange ended in the green with the PSU Bank topping the list, up 3.2 percent followed by IT (up 1.75 percent). FMCG, Metal and Realty indices gained 1 percent each.
Religare Enterprises added another 10 percent today, on top of 10 percent rally seen in previous session.
The broader markets fell more than equity benchmarks, with the Nifty Midcap shedding 1 percent on weak breadth. About three shares declined for every share rising on the NSE.
The top losers were Vedanta which fell 2.9 percent while Hindalco Industries was down 2.89 percent. Sun Pharma, Indiabulls Housing Finance and GAIL India were the other top Nifty losers.
Rain Industries, HEG, Graphite India, Goa Carbon and Phillips Carbon plunged 5 percent.
L&T, HDFC twins, Infosys, ITC pushed the market lower; but Reliance Industries (up 1.3 percent) and auto stocks capped losses.
CNX Energy was the outperforming sector with the index gaining 0.42 percent led by Reliance Industries which jumped over 2 percent. However, BPCL, HPCL and IOC were all down over 2 percent each.
CNX Infra was trading lower by 0.9 percent as Larsen & Toubro fell second day in a row on tepid guidance which was down to 2 percent while Apollo Hospitals and Dena Bank were some of the Nifty stocks which hit new 52-week low.
The top losers were Bharti Infratel which fell 3.5 percent followed by Sun Pharma which shed 1.92 percent while BPCL, IOC and HPCL also added to the Nifty fall. On the other hand, Repco Home Finance zoomed over 9 percent followed by Videocon Industries, Vakrangee, Cox & Kings and KPIT Technologies from the BSE.
Sun Pharma, HCL Technologies, Bharti Airtel, M&M, Lupin, Yes Bank, Kotak Mahindra Bank and Eicher Motors were early gainers.
According to Technical Analyst Prakash Gaba of prakashgaba.com, we are very close to the first line of defense at 10184 and if that goes then even 10089 is not ruled out. The crucial support for the Nifty is at 10184-10089-9994 and the resistance is at 10380-10400. Bank Nifty on the other hand has support at 25200 and resistance at 25600.
A look at top cues from domestic and international cues that could have a bearing on D-Street.
Investors are advised to remain cautious and focus on stock specific opportunities. Bulls will only be able to gain momentum when Nifty climbs back above 10,350 levels. However, if the weakness persists Nifty could slip towards 10,100.
Jai Prakash Asssociates, Jindal Steel & Power, M&M Financial Services, Amara Raja Batteries and Balkrishna Industries were the to Sensex gainers while Axis Bank, Avanti Feeds, Balkrishna Industries, Eveready Industries and Jet Airways hit fresh 52-week high.
The top Nifty losers were BPCL which slumped 2.81 percent followed by Coal India which fell 2.78 percent. ONGC, Bosch and HDFC were the other top Nifty losers.
State Bank of India which was up close to 3 percent while Mahindra & Mahindra was up 2.32 percent. Tech Mahindra, Tata Consultancy Services and Axis Bank were the other top Nifty gainers.
The Sensex closed down 281 points at 33033.56, while the Nifty ended lower by 96.80 points at 10225.00.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10240-10184 and the resistance is at 10380-10400. Bank Nifty on the other hand Bank Nifty has support at 25300 and resistance at 25800.
The country's largest general insurance firm New India Assurance Company, which recently concluded its initial public offer, will make its stock market debut on Monday.