The NSE Nifty dipped 7.40 points or 0.03 per cent to 24,406.10. Intra-day, it tumbled 202.7 points or 0.83 per cent to 24,210.80.
From the Sensex pack, Axis Bank declined over 5 per cent after the company's June quarter earnings failed to cheer investors.
Nestle, Titan, ICICI Bank, Tata Steel, IndusInd Bank, ITC, JSW Steel and State Bank of India were the other laggards.
Among the gainers, Tata Motors jumped nearly 6 per cent.
Larsen & Toubro, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance and Power Grid also ended in the positive territory.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower.
European markets were trading in the negative territory. The US markets ended significantly lower on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,130.90 crore on Wednesday, according to exchange data.
Global oil benchmark Brent crude declined 1.73 per cent to USD 80.31 a barrel.
The BSE benchmark declined 280.16 points or 0.35 per cent to settle at 80,148.88 on Wednesday. The NSE Nifty dropped 65.55 points or 0.27 per cent to 24,413.50.