Benchmark indices ended the day flat after a truncated week, in which the Sensex saw good returns.
Markets will remain closed on Thursday and Friday for Holi and Good Friday respectively. The Sensex ended the day higher by 7.07 points, while the Nifty gained 1.60 points in trade.
Shares in Kalpatru rallied 5 per cent, after the company bagged orders of almost Rs 1000 crores. Top Nifty gainers in trade were Hindalco, Bharti Airtel, Tata Steel and Bajaj Auto.
Prestige Estates gained ground after the company's management guided for higher revenues for the fourth quarter in a television interview.
PSU banking stocks, which have seen a spectacular rally in the last few trading sessions, saw some selling pressure.
Punjab National Bank, Bank of Baroda and State Bank of India were among the losers. Page Industries, the licencee of the Jockey brand fell, after promoters sold a stake in the company.
The stock had at one stage fallen as much as 10 per cent. MMTC gained 5 per cent after the company signed an agreement with Japan & & Korea for export of iron ore.
Meanwhile, markets across Europe were seeing sharp gains of nearly 1 per cent, while most of Asia ended the day higher.