Market was upbeat for major part of the session, largely in tandem with upbeat global markets after the Bank of Japan announced new monetary measures and as investors awaited the outcome of the Fed's policy-setting meeting.
Shares of Power Grid, among Sensex constituents, bore the brunt by falling 1.46 per cent to Rs 175.35 followed by ITC 1.26 per cent to Rs 253.80.
Shares of Monsanto India rose 2.08 per cent to Rs 2,446.10 after German pharma and chemical major, Bayer group announced mandatory open offer to buy up to 26 per cent additional stake in the company for over Rs 1,000 crore.
Sensex started off on a strong at 28,554.38 and advanced to the day's high of 28,689.36. However, on emergence of selling towards the fag-end, it slipped to a low of 28,462.33, before settling 15.78 points or 0.06 per cent, down at 28,507.42.
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Broader markets too depicted a mixed trend as investors locked-in gains in recent gainers. The BSE mid-cap index fell 0.07 per cent and small-cap index gained 0.19 per cent.
Overseas, Asian stocks led by Tokyo mostly closed higher after the Bank of Japan tweaked its monetary easing plan in a renewed attempt to jump start inflation and the lukewarm economy.
"Stocks edged higher after the Bank of Japan (BoJ) announced new monetary policy measures and said that it would expand its monetary base until inflation becomes stable above 2 per cent," said Shreyash Devalkar, Fund Manager Equities, BNP Paribas Mutual Fund.
Back home, Foreign Portfolio Investors (FPIs) sold shares
worth Rs 1,146.93 crore yesterday, as per provisional data released by the stock exchanges.
In the domestic market, 14 scrips out of the 30-share Sensex pack ended lower while 16 ended higher.
Major losers were, SBI (1.14 pc), ICICI Bank (0.86 pc), ONGC (0.68 pc), Cipla (0.28 pc), RIL (0.26 pc), L&T (0.25 pc), Hero MotoCorp (0.23 pc), Maruti Suzuki (0.20 pc), Adani Ports (0.19 pc) and Lupin (0.15 pc).
Among BSE sectoral indices, FMCG dropped by 0.58 per cent, followed by infrastructure 0.33 per cent, PSU 0.30 per cent, power 0.22 per cent and banking 0.19 per cent.