Mumbai, Nov 5 (IANS): The Sensex on Tuesday ended the seven day winning streak with a 53 points loss after survey showed India's service sector activity declined for the second straight month in October.

Yes Bank ended as the top gainer on the BSE after the marquee investor Rakesh Jhunjhunwala picked up nearly Rs 1.3 crore shares of the private bank.

Sensex closed 53.73 points lower at 40,248.23 after flip-flopping between the intra-day high of 40,466.55 and a low of 40,053.55. Nifty also slipped lower by 24.10 points at 11,917.20.

"Based on ongoing result outcome investors are focusing on quality stocks while Mid & Small are under-performing," said Vinod Nair, Head of Research, Geojit Financial Services.

Analyst said excitement is missing in the market as majority of the index participants have already declared their Q2 numbers and now traders are waiting for either domestic developments or global development on the trade tariff front.