All sectoral indices flashed red, down by up to 1.19 percent, with realty, consumer durables, bank and auto registering much losses.
The rupee failed to maintain its strong initial gains and ended lower by 7 paise at 64.15, the second consecutive session fall against the US dollar due to sustained demand for the American currency from importers.
Shares of Tata Steel on Wednesday ended over 8 percent higher, adding Rs 3,531 crore to its market valuation, after the company's consolidated net loss narrowed to Rs 1,168.02 crore for the quarter ended March 31, 2017.
The NSE Nifty ended at 9,525.75, up 13.50 points or 0.14 percent, breaking its previous record closed of 9,512.25 hit in yesterday's trade.
Stocks showed signs of fatigue on Wednesday after two back-to-back record-setting sessions as the benchmark Sensex struggled to maintain its momentum, with investors shifting focus to taking profit.
Catching its breath after a spectacular three-day rally, the rupee surrendered some gains against the US currency and settled lower by 3 paise at 64.08 on fresh bouts of dollar demand.
The 30-share Sensex opened on a strong footing and zoomed to a new peak of 30,591.55, before winding up 260.48 points, or 0.86 percent higher at 30,582.60.
Shares of Punjab National Bank on Tuesday rose by 4.5 percent after the company reported a net profit of Rs 261.9 crore for the three months to March 2017.
The Sensex hit fresh all-time intra-day high of 30,579.23 while the Nifty crossed the 9,500-mark for the first time during afternoon trade on Tuesday.
Sensex hits fresh all-time intra-day high of 30,424 in opening trade
Backed by a booming stock market and increasing interest from retail investors, the assets under management (AUMs) of the mutual fund industry is likely to touch the magical mark of Rs 20 trillion next month.
Markets regulator Sebi has penalised Rushil Decor, Corporate Strategic Allianz and six others for disclosure lapses in their IPO documents.
Shares of Idea Cellular on Monday tumbled over 8 percent after the company reported a consolidated loss of Rs 325.6 crore in the three months to March 2017.
The Sensex on Monday closed at new peak of 30,322.12 by gaining 133.97 points While the Nifty settled at record high of 9,445.40 taking comfort from positive inflation numbers, with the hope that earnings momentum by blue-chips will keep up foreign capital inflows.
In view of heightened threat perception, the Reserve Bank of India has initiated an exercise to upgrade measures for secured storage and movement of currency at over 4,000 chests across the country.
Noticing an increasing tendency among some brokers to place unauthorised orders on behalf of clients, premier bourse BSE has asked them to exercise extra caution and do due diligence while executing trades.
Overseas investors have so far pumped in over Rs 5,000 crore in the country's debt market this month, helped by stable outlook for the rupee.
The forex market sentiment also got a boost from the domestic equities' which scaled their life highs and also expectation of good monsoon reviving rural demand, soft interest rates and strong lending growth for the region's third largest economy.
The benchmark Sensex zoomed to mark new life highs, while gaining 329.35 points to conclude 30,188.15 for the week, while broader Nifty registered above the key 9,400-level.
The HUDCO initial public offering (IPO) saw an exceptional level of interest and the Issue as a whole was oversubscribed by more than 79 times. Bids worth Rs. 97,000 crores were received for an issue size of Rs. 1,200 crores.