Coal India was the biggest gainer on both Sensex and Nifty
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
With sentiment up, launch of new projects revives, though much dissent on whether this is a real return of a positive market
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
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.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Both the indices ended at their highest levels since February 1.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
The BSE on Monday slipped below the crucial Rs 100-lakh crore (Rs 100 trillion) mark as the benchmark Sensex lost 261 points.
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.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
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.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
NTPC was the top gainer among the Sensex stocks, rising by 3.53 per cent. Coal India, ONGC and Sun Pharma also rose up to 2.41 per cent.
Tata Motors was the top gainer on better-than-expected June quarter revenues
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.
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
The broader markets ended in line with the benchmark indices- BSE Midcap and Smallcap indices ended higher by 1.3% and 0.9% each.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
Stocks reeled under huge losses on Thursday as the benchmark Sensex plunged sharply by over 465 points, the biggest single-day fall in three months, after India carried out "surgical strikes" on Wednesday night on terror launch pads across the Line of Control.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25.
Metal stocks lose ground with Hindalco, Tata Steel, Sesa Sterlite down 4-10%.
Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
Phonemaker Apple is said to be in talks to take 30,000 sq ft retail space at plush property Maker Maxity, in Bandra Kurla Complex
BSE Power, Healthcare, Capital Goods, FMCG and Metal indices gained between 0.6-1%.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
