After jumping about 70 points in the opening deals, Sensex gave up gains soon.
Midcaps and smallcaps indices closed 0.28 per cent and 0.16 per cent down, respectively.
Investors chose to restrict their bets ahead of Q3 earnings of ITC, Bharti Infratel and IndiGo.
BSE Midcap and Smallcap indices fell 0.09 per cent and 0.49 per cent, respectively.
The BSE Midcap and Smallcap indices were down 0.12 per cent each at that time.
Optimism stemming from Q3 results of blue chips and positive global cues created positive vibes.
Market analysts see a strong opportunity in select stocks in this current market.
Kotak Bank, ITC and YES Bank are among companies that will report Q3 earnings this week.
Rupee's weakness against the US dollar following the rise in oil prices dented market mood.
Loan growth is expected to remain healthy at 25 per cent year-on-year, driven by retail loans.
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