The Sensex plunged into the red after opening with a gain of 13 points at 7,693.
The Nifty also slipped into negative territory after opening 2 points higher at 2,359.
The Sensex closed at 7634, down 46 points.
The Nifty closed at 2338, down 19 points.
Gainers: Infosys, RIL, Bharti, HDFC Bank.
Losers: Satyam, TCS, Wipro, SBI, Bajaj, Cipla, Dr Reddy's, ICICI Bank, HDFC, Hero Honda, Maruti, ONGC.