Global uncertainty over Donald Trump's likely strong show in US election has also spooked Indian markets, with Sensex extending losses for the fourth day by shedding 97 points to close at a nearly four-month low of 27,430.28 and Nifty dipping below the crucial 8,500-mark.
The emergence of selling pressure towards the fag-end washed out early gains, with participants offloading stocks in mainly oil & gas, realty and IT sectors.
However, buying interest was witnessed in select sectors like telecom and FMCG.
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Besides, investors were keenly awaiting the outcome of the two-day GST Council meet starting today to finalise a 4-tier tax structure.
Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services Ltd, said, "Markets were not entirely bereft of domestic cues, with textile, pharma and services getting brief fillips. But with global markets still on uncertain footing ahead of US elections, Indian stocks fluctuated. Little respite is expected until at least next week... While consensus on GST rates, could also give a distraction for domestic markets."
After opening lower at 27,518.06, the Sensex recovered to the day's high of 27,600.74 on bargain-buying by participants, including domestic financial institutions.
However, it again slipped into negative terrain to hit a low of 27,399.26 before settling 96.94 points, or 0.35 per cent, lower at 27,430.28 - its weakest closing since July 8, when it ended at 27,126.90.
The gauge had lost 414.29 points in the previous three days, tracking negative global cues.
The Nifty after shuttling between 8,476.15 and 8,537.65, concluded 29.05 points, or 0.34 per cent, down at 8,484.95.
Meanwhile, services sector activity in the country gathered pace in October. The Nikkei India Services Purchasing Managers' Index (PMI), which tracks services sector companies on a monthly basis, stood at 54.5 in October as against 52.0 in September.
Investor sentiment remained downbeat in anticipation of a possible win for Trump in US presidential poll, with markets globally could not cheer the US Fed decision to keep interest rate unchanged.
Overseas, Asian stocks ended largely mixed with Hong Kong's Hang Seng falling 0.56 per cent, while Shanghai Composite Index moved up 0.84 per cent. Japanese financial markets were closed today for a public holiday.
Europe too was mixed in early deals with Frankfurt down 0.06 per cent, while London's FTSE and Paris rose 0.22 per cent each.
Among the 30-scrip bundle, Adani Ports suffered the most
by plunging 3.92 per cent to Rs 288.10, followed by ONGC by 3.53 per cent to Rs 267.55.
Other laggards were Tata Steel, Asian Paint, SBI, Wipro, NTPC, Lupin, Infosys, sun Pharma, M&M, ICICI Bank and Tata Motors.
While Hero MotoCorp, ITC Ltd, Dr Reddy's, TCS, HDFC Bank, Bajaj Auto, Maruti, RIL, Cipla and Bharti Airtel emerged as gainers.
As many as 20 scrips out of 30-share Sensex pack ended lower.
Sector-wise, BSE oil and gas index was down 1.83 per cent, followed by PSU 1.75 per cent, infrastructure 1.64 per cent, realty 1.29 per cent, healthcare 1.11 per cent and power 0.98 per cent.
Mid-cap and small-cap too fell by 0.36 per cent and 1.05 per cent, respectively, on continued offloading of positions by retail investors.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 667.37 crore yesterday, as per provisional data.
The market breadth remained negative as 1,775 shares ended lower, 1,174 advanced, while 125 ruled steady.
The total turnover on BSE amounted to Rs 3,202.47 crore, lower than turnover of Rs 3,274.15 crore registered during the previous trading session.
