The 30-share Sensex hovered in a short range of 17,193.25 and 17,084.05. It ended the day at 17,130.67, a loss of 20.62 points or 0.12 per cent from its previous close.
"Today, being April derivative expiry day, sentiments remained cautious from the onset of trading session. Gains were short lived as market slipped into red during the afternoon trades," said Shanu Goel, Research Analyst, Bonanza Portfolio.
State-run gas utility GAIL (India), the biggest loser among Sensex stocks, ended lower by 3.62 per cent. The company had suspended cargo operations at its third liquefied natural gas (LNG) terminal at Dabhol. The BSE Power index was the biggest loser among sectoral indices, ending nearly 1.5 per cent down over its previous close.
Bajaj Auto, Hero MotoCorp and Tata Motors lost in the range of 1-3.6 per cent, bringing the BSE Auto index by 89 points or 0.84 per cent.
DLF (down 2.23 per cent) and HDFC Bank (down 1.16 per cent) were also among major Sensex losers.
"We expect the markets to remain range bound waiting for a trigger to make an upside move. Market participants would be closely watching the US weekly jobless claims," said Sharmila Joshi, Head - Equity, Fairwealth Securities.
Brokers said investor sentiments were subdued after Standard & Poor's yesterday revised the rating outlooks on the country's sovereign credit rating as well as over 20 state-run and private entities.
