The Bombay Stock Exchange benchmark Sensex on Monday closed almost unchanged at 17,527 points after profit booking erased early gains.
The 30-share index rose to 17,776.57 during the day but fell to close with a marginal loss of 13.58 points.
Marketmen said profit booking emerged ahead of India Inc's earning season, which begins tomorrow with Infosys announcing its third quarter results, though Asian and European stock markets remained in better form.
Reliance Industries suffered the most after the company raised Rs 3,465 crore through sale of treasury stocks for the second time this month.
On the other hand, the National Stock Exchange index Nifty managed to close with a moderate gain of 4.65 points at 5,249.40.
Among the 30 Sensex stocks, 15-recorded losses while other 15 ended with gains.
Barring oil and gas index, all other sectoral indices ended in positive zone. Oil and gas index fell by 1.10 per cent at 10,599.62 with RIL declining 1.85 per cent to Rs 1,081.55.