Various global and domestic factors had a sizable impact on the performance of the Indian markets
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
In the case of Indian equities specifically, all eyes will now be on the next RBI monetary policy scheduled for September 29.
The 50-share Nifty bounced 83.35 points, or 0.86 per cent, to 9,794.15 at close.
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
For the second straight week, the Sensex rose, notching up a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the week.
Fresh dollar selling by exporters after USD was trading weak by 0.24 per cent against its major global rivals also aided the rupee recovery.
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
On Wednesday, the rupee had dropped by 26 paise.
The rupee closes 12 paise down against the dollar.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
Risk sentiment received a boost after eight core sectors grew to a five-month high of 4.9 per cent in August
Besides higher tax outgo, P-note issuers are worried about operational difficulties
The rupee on Tuesday gained 14 paise to close at 61.88 against the dollar.
Retail inflation rose 4.38 per cent year-on-year in November, the slowest pace in data going back to January 2012.
The rupee had lost 21 paise on Tuesday's trade.
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Rupee is seen strengthening against the dollar.
Stock markets in structural bull run but there can be bouts of volatility says Ravi Gopalakrishnan, head, equities, Canara Robeco Mutual Fund
HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
Sensex has shed over 150 points in afternoon trade.
The rupee recovered from initial losses against the American currency and was quoted higher by 6 paise to 62.00 on fresh selling of dollars by banks and exporters in view of strong foreign capital inflows into equity market.
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
The BSE Sensex jumped 70.42 points to end at 34,503.49, while the broader NSE Nifty finished at 10,651.20, up 19 points.
Sustained demand for the dollar is the reason.
The ongoing corporate results and the Union budget are also making participants tread cautiously though the GST agreement provided some relief.
The rupee on Wednesday strengthened by another 3 paise to 62.82 against the US dollar.
Market participants attributed the robust inflows to positive investor sentiment
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
It, however, was a record-smashing week for both the indices, which scaled their lifetime highs.
Analysts expect the inflows to accelerate further.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
The restraint on part of investors was chiefly because of RBI's minutes of its December policy meeting, which showed that some members were concerned about rising oil prices, its inflationary impact and possibility of fiscal slippage.
The rupee snapped 2-day rise to end weaker against the dollar on Thursday.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
It was an extremely volatile session, borne out by the Sensex swinging over 1,200 points through the day and the Nifty 369 points.
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