The market momentum was weighed down by selling in banking and financial stocks after RBI hiked CRR on incremental deposits which means banks need to pay additional interest that will impact their income.
Opening negative, the key index recouped immediately, moved in a range for the entire session amid volatility and closed with minor gains.
The 50-share Nifty saw a gap-down at 8,080.65, moved in range of 8,146.50 and 8,066.50 before ending at 8,126.90, a mild gain of 12.60 points, or 0.16 per cent, from its last close.
Overseas, most Asian markets rose as oil prices slid on unease about this week's meeting of Organization of the Petroleum Exporting Countries (OPEC) members to discuss possible output cuts. European markets were trading lower amid continued political uncertainty in Italy.
Stockwise, major gainers were Bharti Airtel (5.91 per cent), Zee (4.14 per cent), Tata Power (3.78 per cent), Bosch (3.01 per cent), Idea (2.92 per cent), Adani Ports (2.91 per cent) and ITC 2.14 (per cent).
Major losers were Bank of Baroda (2.89 per cent), SBI (2.84 per cent), IndusInd Bank (2.14 per cent), ICICI Bank (1.85 per cent) and Yes Bank (1.55 per cent).
A total of 1,053 scrips advanced, 571 declined while 68 remained unchanged. Total securities that hit their price bands were 151.
Turnover in the cash segment declined to Rs 17,895.86 crore, from Rs 18,845.14 crore as on last Friday.
A total of 8,627.53 lakh shares changed hands in 79,38,861 trades. The market capitalisation of NSE stood at Rs 10,474,130 crore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)