Reuters Market Eye - The BSE Sensex fell 0.56 percent while the Nifty was 0.61 percent lower after hitting record highs for a fourth consecutive session.
Investors book profit in most of the outperformers such as Larsen & Toubro Ltd, which was down 1.3 percent, and Oil and Natural Gas Corp, which fell 2.9 percent.
Earlier in the day, the Sensex rose as much as 0.59 percent to a record high of 25,735.87, surpassing the previous high of 25,711.11 hit on Tuesday.
The Nifty gained as much as 0.57 percent to a fresh high of 7,700.05, surpassing its previous peak of 7,683.20.
Real estate stocks continued to fall with the BSE realty index declining 4.1 percent. Shares of DLF Ltd fell 4.8 percent while Unitech Ltd declined 6.6 percent.
However, defensive stocks such as technology and pharmaceutical gained. Infosys Ltd rose 3.5 percent while Dr Reddy's Laboratories was higher 0.96 percent.
(Reporting by Indulal PM)
