The Sensex opened with a positive gap of 23 points at 8,673, and touched a high of 8,684 in early deals. The index could not hold the gains, and slipped to a low of 8,527 - a decline of 157 points from the intra-day high - in noon deals.
After a smart recovery from lower levels, the Sensex finally closed with a loss of 16 points at 8,634.
Reliance declined 1.8% (Rs 15) to Rs 793. ONGC was down Rs 12 at Rs 1,061. HLL slipped Rs 3 to Rs 181, and SBI dropped Rs 2 to Rs 939.
Infosys slipped Rs 11 to Rs 2,517. Satyam moved up Rs 8 to Rs 560, and TCS was up Rs 10 at Rs 1,481.
Bajaj gained 1.7% (Rs 29) to Rs 1,692. HDFC advanced 2% (Rs 20) to Rs 1,040. Dr. Reddy's added Rs 14 to Rs 853. ICICI Bank was up over 2% (Rs 13) at Rs 608.
Reliance Energy zoomed 4% (Rs 22) to Rs 582. BHEL moved up Rs 7 to Rs 1,230. Tata Power added 3% (Rs 16) to Rs 483.
Grasim, ACC and Gujarat Ambuja closed with marginal gains.