The 30-share Sensex on the Bombay Stock Exchange ended the day at 17,373.01, a loss of 117.89 points, or 0.67 per cent, from its last close. The index dipped to intra-day of low of 17,237.68 points before it recouped partly in the last thirty minutes.
The broader 50-share S&P CNX Nifty of the National Stock Exchange also fell by 47.60 points, or 0.92 per cent, to close at 5,144.65.
The European markets were trading in the red in their opening following reports that Swiss Bank UBS will make sizeable job cuts and had had a preliminary deal with a US-based asset manager to sell a $15 billion portfolio of sub-prime mortages.
Asian indices, however, recovered their initial losses and ended in the black. Japanese markets were closed on Tuesday.
Marketmen said investors looked uncomfortable with the inflation at 42-month high at 7.57 per cent and world oil prices hitting a new record at $120.30 a barrel in Asian trade.
