ICICI Bank, ONGC and Tata Motors contribute to nearly 50% gain seen on the Nifty.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
Investor wealth on Tuesday soared by nearly Rs 1 lakh crore as stocks rallied after the RBI hiked a key policy rate to tame inflation while enhancing liquidity for the banking system.
Shares of DLF on Thursday plunged nearly 9 per cent after the Punjab and Haryana High Court set aside the state government's decision to allot 350 acres of land in Gurgaon to the realty major in 2010.
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
NSE Nifty, after shuttling between 10,809.60 and 10,725.90, finished 30.95 points, or 0.29 per cent lower at 10,741.10.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
Both the indices ended at their highest levels since February 1.
The broader NSE Nifty moved between 10,705 and 10,785.55, before ending 25.15 points, or 0.23 per cent down at 10,716.55.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Sustained foreign funds outflows and the rupee depreciating 68 paise to hit a three-month low of 64.88 (intra-day) against the dollar affected investor sentiment
The broader markets closed in tandem with their large counter parts- BSE Midcap and Smallcap indices lost 0.065 and 0.10%, each.
India's GDP for the three-month period ended September 30 grew 7.4%.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
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.
Investors were anxious concerned about the uncertainties over the timing of Us Federal Reserve rate hike, US policies under President Donald Trump, the upcoming French election and rising crude price that could impact inflation, going ahead. A weak closing in Asia tracking overnight losses in the US owing to all these unknowns triggered selling, brokers said.
Tata Steel was the day's worst performer in the Sensex pack, plunging 3.25 per cent, followed by Bharti Airtel at 3.05 per cent.
The Sensex swung over 660 points both ways on alternate bouts of selling and buying before closing the day higher by 97.39 points, or 0.28 per cent.
From the 30-Sensex pack, 26 stocks ended with gains led by Tata Steel and ICICI Bank
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
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.
Markets taking cue on future rate cuts from RBI policy.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
Participants are keenly waiting for the January IIP.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Auto and realty shares were among the top Sensex gainers.
Profit booking in realty, oil and gas, capital goods, power and metal stocks pulled the index down to the day's low of 25,347.33 points.
Sensex shed 167 points to close at 28,633 and Nifty dropped 55 points to end at 8,695.
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