On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
The rally in index heavyweight ITC has boosted the sentiment across the board.
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
The Indian economy can grow if it is delinked from the slow growth in the West and the deceleration in China, says Ashok K Lahiri.
It should be clear to all that flyovers don't solve urban traffic problems, says Subir Gokarn.
Weak production outlook, low crude oil prices and regulatory issues could keep the scrip in check
A rate cut could stimulate demand and help revive industrial activity, without much risk of sparking off inflation again.
The fall in international oil prices had resulted in six consecutive reduction in petrol prices since August and two in diesel in the last one month and there was possibility of another round of cuts this weekend.
From February to mid-March, oil prices receded rapidly.
The Middle East's power house is about to get a new ruler who is only 31 and he may lead Saudi Arabia for decades, says Ambassador M K Bhadrakumar.
Market breadth was weak with 1,260 advances and 1,597 losers on the BSE.
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
We lost the gains of Rio and Kyoto in Copenhagen and Paris, but it would have been worse, if any mandatory restraints were imposed on our green house gas emissions, says Ambassador T P Sreenivasan.
'In this country of 1.2 billion, there may be a few Indians who might dislike Muslims and wish them ill. But the vast majority of Indians remain secular, no matter how grave Hindu-Muslim tensions,' says Amberish Kathewad Diwanji.
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
The muted CPI inflation print at 5% earlier this week, followed by a similar WPI number released Wednesday, seems to have spurred India's central bank into action, is how the economists are reading into Reserve Bank of India governor Raghuram Rajan's 25 basis point cut in repo rate.
From selling 14,000 Jeeps in 1973, we slipped to selling just 7,000 vehicles within just three-and-a-half years by 1976.
If you are not already lost in the zeros this wealth stands at Rs 257 lakh crore or Rs 257 trillion, according to a report unveiled by Karvy Private Wealth for the year 2014.
Do Modi's foreign visits actually serve India or they nothing more than expensive tools for domestic positioning and image-building, asks Shehzad Poonawalla.
Countries in the region like Afghanistan, Pakistan and Maldives face serious existential threats from a mix of terrorist groups active in the region and elsewhere