The indexes entered positive territory almost 2.5 hours before the market closing after U.S. air strikes on Syria appeared to be having scant impact on trading, and oil prices fell back.
Geopolitical tensions over Syria and trade war concerns weighed on the domestic unit.
Infosys share price tanked sharply, slipping 6 per cent after the company reported 28.2 per cent fall in net profit at Rs 3,690 crore in Q4 on consolidated basis, in-line with expectations, as against Rs 5,129 crore reported in the December quarter of FY18. The stock was the biggest contributor to the losses on Sensex.
The index had risen 1,173.88 points in the past seven sessions.
Market observers said that healthy buying in healthcare, fast moving consumer goods (FMCG) and capital goods stocks supported the northward trajectory of key indices. 30-share BSE Sensex lost nearly 150 points to open below 34,000-mark, but the index soon mad e a comeback and was at 34,119.45, still 73.20 points down, at 9.30 am.
India's exports dipped by 0.66 per cent to United States dollars 29.11 billion in March, even as they increased by 9.78 per cent for the full 2017-18 fiscal.
The BSE market breadth was, however, bearish with 1,430 declines and 1,232 advances.
Other major losers in the Nifty50 pack were Tata Motors, Wipro, Axis Bank, ONGC, NTPC, RIL, Dr Reddy's SBI, Bharti Airtel, ICICI Bank, Maruti Suzuki, Asian Paint and Tata Steel, falling by up to 1.54 per cent.
Hero MotoCorp (2.02%), Kotak Mahindra Bank (1.88%) and Adani Ports (1.85%) were the top gainers on Sensex.