The BSE benchmark Sensex today closed three points down as investors refrained from creating fresh positions ahead of the release of factory output data and quarterly earnings season led by Infosys tomorrow.
The Sensex ended 3.04 points lower to 19,663.55. It touched the day's high of 19,783.75. The index had lost 76 points in the previous session.
Similarly, the broad-based National Stock Exchange index Nifty ended lower by 2.85 points to 5,968.65, before shuttling between 6,005.15 and 5,947.30.
Brokers said investors refrained from creating fresh positions before the release of the industrial production (IIP) data and quarterly earnings season led by Infosys tomorrow.
They said state-run oil company stocks were in demand on hopes of a hike in fuel prices to reduce the subsidy burden and bucked the weakening trend.
A firming trend in overseas markets failed to influence the market sentiment as investors remained on sidelines before any major outcome of major events tomorrow, they added.
In 30-BSE index kitty stocks, 23 stocks closed with losses. Reliance Industries lost by 0.23 per cent to Rs 849.55 and Infosys by 0.34 per cent to Rs 2,320.35.
The downtrend was driven by stocks in power, healthcare, metals, capital goods and IT sectors, while a gain in bank, oil and gas and auto sectors saved the market from any major fall.