A weak rupee and persistent foreign fund outflows further weighed on bourses, though encouraging domestic macroeconomic data like all-time high GST collections and strong manufacturing PMI cushioned the fall.
After plunging over 600 points in intraday trade, the 30-share BSE Sensex recouped most losses to end 84.88 points or 0.15 per cent lower at 56,975.99.
On similar lines, the broader NSE Nifty shed 33.45 points or 0.20 per cent to close at 17,069.10.
Titan was the biggest laggard in the Sensex pack, tumbling 2.95 per cent, followed by Wipro, Tech Mahindra, Infosys, Asian Paints, Maruti, SBI and Kotak Bank.
In contrast, IndusInd Bank, NTPC, PowerGrid, Tata Steel, HDFC and ITC were among the prominent gainers, rising as much as 4.17 per cent.
HDFC advanced 1.55 per cent after the country's largest mortgage lender reported a 16 per cent rise in standalone net profit to Rs 3,700 crore for the March 2022 quarter. HDFC Bank too rose 1.33 per cent.
The market breadth was negative, with 19 declines and 11 advances.