Sensex, Nifty End Lower As Investors Take Stock After Record Highs: Market Wrap

"While the Sensex reaching 70,000 is a significant milestone, it's important to remember that investing is a long-term journey," Nitin Rao, chief executive officer of InCred Wealth, said in a note. "Resist chasing short-term gains and avoid investing based on emotions."

"Don't be lured by stocks with attractive prices but lack underlying strength. Always prioritise companies with strong financials and long-term prospects," Rao said.

"The index trended lower throughout the trading session as the selling pressure kept intensifying and ended the trading day with the formation of a bearish engulfing pattern on a relatively higher volume," Avdhut Bagkar, technical and derivatives analyst at StoxBox, said. "This potentially indicates a temporary arrest on the upside unless the high of 21,037 is decisively taken out."

Globally, indices were higher ahead of the release of U.S. inflation data due later in the day. Most European markets opened higher after the U.K. wage growth for the three months ending October was slower than expected.

Indices in Asia also closed higher, led by Hong Kong's Hang Seng, as investors await decisions from a meeting of the Chinese economic policymakers that may indicate how much stimulus to expect next year.