Benchmark indices ended the day flat ahead of the Reserve Bank of India's (RBI) Monetary Policy. The Sensex closed the day with gains of 20 points at 27,848 points, while the Nifty ended the day with a loss of 0.25 points.
Shares in banking stocks gave up some gains ahead of the RBI's Monetary Policy. Among the shares that lost ground were HDFC Bank and Axis Bank which shed more than one per cent each.
PSU banking stocks like Canara Bank and Punjab National Bank also dropped in trade. Sun Pharma was the biggest loser in trade dropping 8 per cent after its results lagged estimates.
Jet Airways fell sharply after aviation turbine fuel was hiked.
Mid cap stocks ended the day flat though stocks like Bajaj Finance and India Bulls Housing Finance were among the gainers in trade.
Shares in Larsen and Toubro rallied following quarterly numbers that largely met expectations.
Meanwhile, the Shanghai Composite gained 4.72 per cent recovering bulk of the losses seen on Friday. The rupee was trading with gains of 63.67 to the dollar.