The markets declined for the second consecutive session due to weakness in index heavyweights such as ONGC, RIL, Tata Motors and ITC. The benchmark indices had slid by around 1% on Monday and there were no signs of a rebound; the Sensex ended this session at 27,531, lower by 112 points or 0.4% and the Niftysettled below the crucial technical level of 8,350 at 8339, down 31 points or 0.3%.