Global oil prices have climbed after the US asked its allies to end all imports of Iranian oil by November.
The government is launching the IPO of railway consultancy firm RITES on June 20 and will list IRFC and RVNL in the July-September quarter.
Market analysts pointed out a buying pick-up in healthcare, banking and capital goods counters, whereas metals stocks bore the brunt of profit booking.
Healthcare counters were the session's biggest gainers following a clutch of USFDA approvals for Indian drugmakers.
The major gainers on the BSE were Adani Ports, HDFC Bank, IndusInd Bank, Mahindra and Mahindra (M&M) and Hindustan Unilever, while Sun Pharma, Tata Motors, Hero MotoCorp, Bajaj Auto and Dr Reddy's Lab were the major losers.
An increase in oil prices of $10 a barrel could quicken inflation by about 1 percentage point and reduce economic growth by 0.2 to 0.3 percentage points.
Bharti Airtel shares dropped 6.44 per cent to close at Rs 385.70. Intra-day, it slumped 7.53 per cent to Rs 381.20. The stock was the worst hit among the 30-Sensex blue chips.
Globally, investor sentiment was tense on concerns of the US and Russia heading for a showdown in Syria.
Global markets were thrown into a fresh round of uncertainty after US president Donald Trump ramped up his trade war rhetoric with China, seeking $100 billion in additional tariffs on Chinese imports.
Benchmark Sensex slumped more than 350 points in line with a wider global market meltdown after US and China escalated their trade tensions with a fresh round of retaliatory tariffs.
Banking stocks were the session's biggest gainers, with the PSU lender SBI emerging on top in the Sensex pack.
The proposal will be discussed at the board meeting of Securities and Exchange Board of India (Sebi) this week.
Banking stocks took a hit after Totem Infrastructure was booked by the CBI for allegedly defrauding a consortium of eight banks led by Union Bank.
Markets responded to mounting bad loans swiping off money from bank stocks, including those of SBI, ICICI, BoB, PNB, Kotak, HDFC, Federal Bank and Axis Bank fell by 2.77 per cent.
Investors are expected to keep a close watch on the upcoming macro-economic data point - the Nikkei India Composite PMI Output Index.
The Sensex closed at a three-week high of 34,445.75, while the wider NSE Nifty went past the 10,550-mark.
Banks continued to felt the ripples of the massive Rs 11,400-crore fraud detected at the PNB as their stocks slumped and many of them hit their 52-week lows during the intra-day trade.
For foreign investors, trading derivatives in India's exchanges means paying higher taxes and factoring in currency risks for rupee-based contracts.
The sell-off followed another battering on Wall Street, where the benchmark Dow suffered its second-heaviest daily points fall after key US Treasury bond yields spiked.
In addition to pressure from the drop in global shares, Chinese equities were weighed by factors such as investors attempting to stay liquid ahead of the Lunar New Year holidays and pressure to meet rising margin calls.
The central bank kept the interest rate unchanged at 6 per cent as widely expected and maintained its 'neutral' stance.
After a swing of nearly 1,200 points during the session, the Dow finished solidly higher, tacking on more than 500 points, or 2.3 per cent from Monday's close, to 24,912.77.
The fundamental economic indicators were still strong in India, except the high oil prices and the elevated bond yields.
Among the 30-share Sensex stocks, four companies were trading in green led by Tata Steel, Bharti Airtel, Larsen & Toubro and ICICI Bank.
Responding to the market sell-off, the White House said Trump was focused on the long-term health of the US economy, claiming the fundamentals were 'exceptionally strong.'
The NSE Nifty was trading down by 173.80 points, or 1.61 per cent, at 10,586.80.
Market mood suffered another setback after Fitch Ratings said high debt burden of the government constrains India's rating upgrade.
The 30-share index had plunged over 460 points in afternoon trade after finance minister Arun Jaitley announced long-term capital gains tax of 10 per cent.
According to market observers, investors turned cautious and booked profits ahead of the presentation of the Union Budget 2018-19 on Thursday.
The BSE Sensex spurted 233 points to end a fresh lifetime high of 36,283.25, while the broader Nifty too finished at record 11,130.40.
Investor sentiment got a boost after the IMF said India will see its growth picking up to 7.4 per cent in 2018-19 to regain the status of the world's fastest growing major economy.
Power, IT, auto and infrastructure stocks witnessed robust buying, while the beginning of the January 2018 series of futures and options added to the momentum.
Both Sensex and Nifty made good all their early losses and traded much higher.
Reuters has documented at least 12 cases of prescient messages about major Indian companies, including Dr. Reddy's, being posted in private WhatsApp groups.
Here are some must-follow tips for NRIs who want to invest in Indian stock market.
Don’t miss out on the opportunity as the Nifty index could record 15-20% CAGR in the next 10 years and hit 41,000 by 2028.
The benchmark BSE Sensex zoomed over 387 points to close at a fresh life-time high of 33,600 while Nifty topped the 10,450-mark for the first time, powered by India's jump on World Bank's 'Ease of Doing Business' list.
The portion meant for QIB was subscribed 1.55 times, but non-institutional investor category received just 1 percent subscription.
Geopolitical risks can boost demand for safe-haven assets such as gold, considered a good store of value during volatility in other markets.
The sharp fall in Infosys scrip dragged down the market.
Stock markets around the world crashed on fears that the war of words between the United States and North Korea could escalate into a nasty war.
The historic 10,000 level proved to be short-lived as the Nifty closed with a negative bias and the Sensex lost from its life high after investors went for profit in recent gainers.
The growth prospects in developing Asia for 2017 have improved on the back of stronger than expected export demand in the first quarter of this year, says the ADB report.
Tax was raised on Monday, resulting in an increase of as much as Rs 792 for every 1,000 cigarettes.
The inflation data is raising hopes the Reserve Bank of India could cut interest rates by 25 basis points (BPS) at its next policy review on Aug 1-2.
SEBI relaxed entry norms for overseas investors, rationalized 'fit and proper' criteria as also simplified other requirements.
The 30-share index stayed in the negative zone throughout the session and hit a low of 30,393.72.
The benchmark BSE Sensex closed up 0.25 percent at 30,658.77, while the broader NSE Nifty ended 0.14 percent higher at 9,525.75.
The market opened on a positive note and scaled to new lifetime intra-day highs at 9,517.20 and ended the day on record closing high.
The markets also fell back on better than expected quarterly earnings, which came as a feel-good factor.
The consumer price index (CPI) based retail inflation for March 2017 was revised slightly upwards to 3.89 percent, from 3.81 percent recorded previously.
All the sectoral indices, led by metal, healthcare, auto and banking, were trading in green with gains of up to 1.02 percent.
Other Asian markets were trading higher following an overnight positive lead from European and US markets.
The 30-share index rose over 150 points in morning trade to recapture the 30,000-mark, hitting a high of 30,069.24, but later lost momentum to fall to 29,804.72.
The Nift managed to stay above the psychologically-crucial 9,300.
It broke the previous record of 9,273.90 reached on April 5.
According to official data released Monday, food prices saw a sharp rise of 3.12 percent in March compared to 2.69 percent in the previous month.
A video released on social media showed that a bloodied passenger was dragged off a United Express flight by the aviation security officers.
The largest public sector shipyard in the country in terms of dock capacity expects to raise Rs 1,400-1,500 crore through the IPO.
Investors continued to soak in BJP's superlative show in UP and Uttarakhand, which is seen as giving an impetus to the government's reforms drive.
A strong set of industrial output numbers for January provided the perfect backdrop to reap more dividends.
Forex dealers said a weakening dollar against other currencies and domestic stock markets zooming to new highs with the NSE Nifty hitting a record 9,122.75 points in opening trade kept the rupee going.
Financials and industrial stocks, which benefited the most in the post-election rally, are the biggest gainers.
Jio, he said, will continue to offer free voice calls and national roaming post April 1, when its promotional free voice and data offer ends.
Profit- booking by retail investors dragged small-cap and mid-cap indices lower by 1.52 percent and 1.16 percent, respectively.
RBI's decision to keep rates unchanged caught the stock markets off-guard with a sharp plunge in the Sensex within minutes of the policy announcement amid a heavy pounding of bank stocks.
Sentiments also got a boost after finance minister Arun Jaitley proposed to bring down the fiscal deficit to 3.2 per cent of GDP from 3.5 percent.
The benchmark BSE Sensex rose 64.15 points, or 0.23 per cent, to 27,720.11 in early deals.
The Sensex slumped 194 points ahead of the budget to a one-week low of 27,656 and the Nifty slipped below 8,600 after the Economic Survey projected a lower growth of 6.5 pc for 2016-17.
IT stocks plunged over 4 percent, knocking off more than Rs 33,000 crore in market valuation of top five firms, after a new H1-B Bill in the US set off concerns that it will adversely impact hiring plans of Indian technology firms.
In a major decision on divesting stake in state-run general insurance companies, the cabinet approved the public listing of 5 firms by which the government's shareholding in them would be brought down to 75 percent.
The IPO, which will open for bidding on Jan. 23, will see some of BSE's shareholders selling a total of 15.4 million shares.
Market benchmark Sensex rebounded by over 173 points to finish at 26,899.56 as domestic investors heavily bought into recently battered metal, auto and oil & gas stocks.
The much-awaited public offer of BSE will see the sale of approximately 3 crore shares by the existing shareholders.
The BSE Sensex made a modest recovery of over 43 points at the start on fresh buying, buoyed by a pick-up in infrastructure sector in November coupled with firm Asian cues.
The 50-share Nifty edged down by 6.30 points, or 0.08 percent, to close at 8,179.50.
The Sensex surged over 260 points on Friday to close at over a fresh two-week high of 26,626 on the final trading session of the year.
Mumbai: The rally in the previous session proved to be a temporary breather as the NSE Nifty Monday slumped to a 7-month low of 7,908 and the Sensex below 26,000, hit by talk of higher taxation after prime minister's remarks.
On Saturday, prime minister Narendra Modi had said market participants
Breaking a string of losses of the past seven days, the Sensex ended above the 26,000 level by racking up modest gains today, aided by pharma, auto and capital goods, but registered a weekly drop.
The NSE Nifty fell by 60.50 points, or 0.73 per cent, at 8,121.95.
Financial stocks were among prominent gainers after RBI decided to remove the incremental Cash Reserve Ratio (CRR) of 100 per cent from December 10.
The benchmark Sensex reversed its two-day rally as it fell 156 points to end at 26,237 as RBI left interest rate unchanged at 6.25 percent, contrary to market expectations, in its first policy review since the currency switch.