Closer home, benchmark indexes Sensex and the Nifty rose about 0.3 percent on Wednesday and the rupee recovered from early lows to close 10 paise higher at 64.33 against the dollar after the RBI cut statutory liquidity ratio by 50 basis points and reduced risk weight on specific categories of housing loans.
Mumbai: In a volatile session, the BSE benchmark Sensex Thursday fell by almost 58 points to 31,213 on profit-booking in recent gainers by investors, who maintained a cautious stance ahead of United Kingdom polls and the European Central Bank meeting.
Globally, Asian stocks ended mixed as investors awaited directional cues from the three big upcoming events today and next week's Federal Reserve meeting.
Also, market participants holding their bets ahead of the United Kingdom general elections and the European Central Bank (ECB) meeting added to the overall weak sentiment.
The market sentiment took a short-term reversal in the absence of any meaningful fresh domestic triggers and also concerns of stretched valuation.
South Korean markets are closed for Memorial Day.
Sector-wise, the BSE oil and gas was hit the most and fell 1.38 per cent, followed by IT 1.33 per cent, teck 1.19 per cent, PSU 0.60 per cent, consumer durables 0.58 per cent, capital goods 0.36 per cent, realty 0.21 per cent, FMCG 0.19 per cent and banking 0.15 per cent.
The S&P BSE Small-Cap index provisionally declined 0.65%. The market breadth turned negative as 1,774 stocks ended lower, 924 closed higher while 160 ruled steady.