The Sensex and the Nifty ended the session marginally in the red due to profit-booking by funds and retail investors amid firm European cues.
The 30-share BSE index Sensex fell 68.26 points or 0.24 per cent to end at 27,940.64 and the 50-share NSE index Nifty ended at 8,357.85, down 25.45 points or 0.3 per cent.
Among BSE sectoral indices, oil & gas index succumbed to heavy profit-booking and was down 1.63 per cent, followed by realty 1.44 per cent, PSU 1.32 per cent and India infrastructure index 0.78 per cent.
On the other hand, IT and TECk indices were the star-performers and were up 0.99 per cent and 0.74 per cent, respectively, followed by healthcare 0.56 per cent and consumer durables 0.36 per cent.
Infosys, Dr Reddy's, Cipla, Wipro and Bharti Airtel were the top five Sensex gainers, while the major losers were SSLT, Tata Power, ONGC, GAIL and Axis Bank.
India Forex Advisors in a report said: "The consumer inflation fell to a record low for the month of October at 5.52 per cent against 6.46 per cent in September. The expectation was around 5.8 per cent for the month. The numbers were dragged down by a slow pace of increase in crude and food inflation.
Food inflation came in at 5.59 per cent in October vs 7.67 per cent in the previous month. Whereas petrol prices have been cut six times since August this year, diesel prices have been lowered twice since they were deregulated by the government. The RBI is hesitant to cut interest rates until it is confident the inflation is reduced to meet its target of 6 per cent by January 2016.''
European shares rose 0.4 per cent in the opening trade in a small rebound from falls on Wednesday, and Asian and emerging markets shares had also inched higher.
Stoxx 50 climbed 22.83 points or 0.75 at 3,070.13 and FTSE 100 was up 18.58 points or 0.28 per cent at 6,629.62.