The Sensex touched a high of 33,637.46 points and a low of 33,267.86 points during the intra-day trade.
The benchmark Sensex of the Bombay Stock Exchange (BSE) shed almost 100 points in early hours of trade today on profit booking by participants, ignoring a firm trend at other Asian stocks. On the whole, GDP growth is projected to strengthen from 6.6% in 2017-18 to 7.4% in 2018-19, in the range of 7.3-7.4% in the first half and 7.3-7.6% in the second half, with risks evenly balanced, the central bank said.
Losses may however get capped by positive sentiment created by RBI monetary policy which sounded dovish and triggered a sharp rally in the previous session.
China's move led to worries that the two nations may be heading towards an all-out trade war.
The BSE market breadth was bullish with 2,071 advances and 631 declines. The reverse repo rate, at which it borrows from banks and absorbs excess liquidity, will remain at 5.75%.More news: Rahul takes jibe at PM on CBSE paper leak
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The broader NSE Nifty, after scaling the day's high of 10279.85, slipped into the negative terrain to 10111.30 before closing at 10128.40, down 116.60 points, or 1.14 per cent.
Meanwhile, domestic institutional investors (DIIs) bought equities to the tune of Rs 615.28 crore yesterday, while foreign portfolio investors (FPIs) net sold shares worth Rs 108.02 crore, according to provisional data.
In other sectoral indices, Metal rose 4.14 per cent, realty 2.55 per cent, PSU 2.19 per cent, consumer durables 1.85 per cent, capital goods 1.83 per cent, infrastructure 1.82 per cent, IT 1.55 per cent, teck 1.44 per cent and oil & gas 1.26 per cent.
Markets in Japan and Australia clung on to marginal gains but China, Hong Kong and South Korea dipped into the red, delivering a mixed picture across the region. London's FTSE too was up 1.29 per cent.