The BSE 30-share Sensex after resuming a tad higher at 34,846.90 quickly slipped into the negative zone to touch a low of 34,672.20, largely in sync with global sell-off.
The Sensex of the BSE opened at 34,846.19 from its previous close at 34,812.99 on Monday.
The 30-share Sensex dwindled 79.13 points, or 0.22 per cent, to close at 35,158.55. The broader NSE Nifty lost 13.20 points, or 0.12 per cent, to end at 10,585.20.
Sectoral indices, led by power, metal, banking and auto stocks, were trading in the negative terrain, falling by up to 1.44 per cent.
The 30-share index opened higher at 34,650.63 points and advanced to 34,679.93 points in the early morning trade amid sustained buying by domestic institutional investors (DIIs), better-than-expected corporate earnings and positive global cues.
Investor sentiment turned positive after the Finance Ministry issued a statement to dampen concerns over a spat between the government and the central bank.
Markets globally are keenly awaiting the US response next month how it goes with tariffs on all remaining Chinese imports.
IndusInd Bank, Reliance Industries, Coal India, Tata Steel, TCS, ITC, NPTC and L&T were among the top losers, falling up to 2 per cent.
On year-on-year basis, ICICI Bank, however, reported a 42 per cent drop in its consolidated net profit to Rs 1,204.62 crore in the September 2018 quarter.
Most Asian markets skidded to multi-month lows and European shares opened sharply lower on worries over corporate earnings and global growth.
All sectoral indices of BSE, led by metal, power, realty and bankex were trading in the negative territory, falling by up to 1.63 per cent.
During October F&O series, the BSE Sensex dropped 2,634.08 points, or over 7 per cent while the NSE Nifty lost 852.65 points, or almost 8 per cent.
Top laggards included Bharti Airtel, IndusInd Bank, Infosys, Vedanta Ltd, RIL, HUL, L&T, Adani Ports, Tata Motors, Asian Paint, Axis Bank, Bajaj Auto, HDFC Ltd, PowerGrid, Yes Bank and Tata Steel, falling by up to 3.71 per cent.
The broader NSE Nifty too recovered by 77.95 points, or 0.77 per cent, at 10.224.75. Intra-day, it shuttled between 10,290.65 and 10,126.70.
The rupee depreciated to 73.82 (intra-day) against the US dollar, which too had a negative influence.
The 30-share index slipped dropped 204.78 points, or 0.60 per cent, to 33,929.60. The benchmark had lost 1,028 points in the previous three sessions.
The index had lost 847 points in the previous two sessions on liquidity concerns as well as weak global cues.
The 30-share barometer, which had lost 847 points in the previous two sessions, was trading higher by 321.41 points, or nearly 1 per cent, at 34,637.04.
Meanwhile, the Reserve Bank on Friday announced more steps to increase liquidity flows to the non-banking financial companies.
The flagship index swung nearly 880 points both ways on alternate bouts of buying and selling during the session.
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