Sensex closed with a loss of 6 points at 22,758 largely on profit booking after the recent rally. The benchmark index opened marginally higher at 22771 against the previous close of 22765. It made a high of 22853 and low of 22728 before closing at 22758.
Turnover on BSE was higher at Rs 2,719 crore against Rs 2,384 recorded on Monday. In NSE, Nifty was down two points at 6,815.
Sesa Sterlite dropped 4 per cent to Rs 194 after the company said all mining leases in Goa, including those of Sesa Sterlite have expired in 2007 and that no mining operations can be carried out until renewal/execution of mining lease deeds by the state government.
The stock market may remain volatile on Wednesday as traders roll over their futures and options position from April to May. The April contract expires on Wednesday. The stock market remains closed on Thursday on account of Parliamentary elections in Mumbai constituency.
HDFC Bank rose 1.36 per cent to Rs 726 after its net profit rose 23 per cent to Rs 2327 crore on 15 per cent increase in income to Rs 12,790 crore in fourth quarter.
The major gainers were Wockhardt (5%), Unitech (4%), BPCL (4%), Jet Air India (4%), Mahindra & Mah Fin (4%) and Indian Oil Corp (4%).
Prominent losers were MRF (-7%), Apollo Tyres (-6%), Gujarat Mineral (-5%), TV18 Broadcast (-3%) and MCX (-3%).