After moving in a narrow band of 78 points (high of 8,343 and low of 8,265), the Sensex finally closed on a flat note at 8,309.
The Nifty gained 12 points to close at 2,501.
Hindalco advanced over 5% (Rs 7) to Rs 130 after the company announced that a committee of directors will meet on Saturday to finalise the price for the 1:4 rights issue.
BHEL gained 3.7% (Rs 44) to Rs 1,248. Ranbaxy was up Rs 2 at Rs 376 after the company won a patent ruling in Norway.
Infosys advanced 1.4% (Rs 36) to Rs 2,655. TCS was up Rs 13 at Rs 1,469. Satyam, however, was down Rs 7 at Rs 630.
ONGC gained over 2% (Rs 20) to Rs 974. SBI added Rs 2 to Rs 849.
HLL declined over 2% (Rs 4) to Rs 169. Reliance dropped Rs 6 to Rs 786.
Bajaj declined over 2% (Rs 42) to Rs 1,801. Dr. Reddy's was down Rs 15 at Rs 915. HDFC dropped Rs 14 to Rs 1,035.