The 30-share barometer had opened on a positive note and touched day's high of 24,925.90 points. However, profit booking emerged later and the index fell to day's low of 24,773.93 points before settling at 24,805.83, a fall of 52.76 points, or 0.21 percent, over previous close.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
Weak global cues as investors awaited data on US jobs and a decision from the European Central Bank on monetary policy amid some selling by foreign funds also impacted the market, a broker said.
The broad-based NSE 50-issue CNX Nifty also slipped from record high closing by losing 13.60 points, or 0.18 percent to end at 7,402.25.
On Tuesday, Nifty closed at all-time high of 7,415.85, while Sensex had ended at record 24,898.59 after the RBI unlocked about Rs 40,000 crore of banking funds by cutting the statutory liquidity ratio (SLR) by 50 bps.
Reliance Industries, ONGC, Tata Consultancy Services, Bharti Airtel, M&M and HDFC were among the 15 Sensex losers. ONGC was the top loser from the Sensex pack with a fall of 1.87 percent.
Among BSE sectoral indices, the IT index fell by 1.27 percent, Oil and gas 1.26 percent, Teck 1.01 percent and FMCG by 0.23 percent. But realty index, capital goods, metal, consumer durables, PSU, power, auto and banking indices ended in the positive zone.
Metal stocks, even in the weak market, continued their winning streak on strong Chinese factory output data. Tata Steel and Hindalco Industries ended up to 3.48 percent higher, restricting fall in the Sensex.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 575.09 crore on Tuesday, as per provisional data from the stock exchanges.

Insurance stocks gain 9 percent on hopes of FDI hike

Stock prices of insurance companies saw renewed buying interest and surged up to 9 percent in view of the reports that government is contemplating raising FDI cap in the sector.
Max India rose by 9.01 percent, while Reliance Capital shares rallied 5.22 percent on the BSE.
Shares of Bajaj Finserv gained 4.83 percent, while Religare Enterprises was up 2.58 percent.
Reports said earlier this week that the Finance Ministry is contemplating raising FDI cap in insurance sector from 26 percent to 49 percent with some riders like restriction on voting rights.
"We might increase FDI cap in insurance without commensurate increase in voting rights. We talked with stakeholders and also held high level meeting in ministry," a senior ministry official had said earlier this week.

He had also said that the government may raise FDI cap in the sector gradually beginning with non-life and health followed by life insurance segment.


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