The benchmark BSE index ended down 0.12 percent and the broader NSE index 0.23 percent lower, as exporters such as Infosys Ltd rallied after the rupee fell to a nine-month low, although the weaker local currency hit other blue-chips such as Tata Motors by tempering hopes of interest rate cuts.
The partially convertible rupee ended at 61.94/95 per dollar versus its previous close of 61.96/97, after a fall to a nine-month low had sparked mild intervention from the central bank, as emerging market currencies were hit by a weak reading in a private survey of China's manufacturing.
The benchmark 10-year bond yield ended flat at 8.16 percent giving up all the gains, after Bloomberg quoted a central bank adviser as calling for an interest rate cut, while the continued fall in global crude oil prices also aided sentiment.
The benchmark five-year swap rate closed 5 bps lower at 7.35 percent and the one-year rate ended down 6 bps at 7.95 percent.
India's cash rate ended at 8.00/8.05 percent, higher than Wednesday's close of 7.50/7.60 percent. (Compiled by Swati Bhat)