The BSE Sensex gained 104.63 points to end at 33,147.13, while the broader Nifty spurted 48.45 points to finish at 10,343.80.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
Caution prevailed across the bourses ahead of the Union Budget.
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.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Sentiment was hurt after market regulator Sebi directed bourses to initiate action against 331 suspected shell companies.
The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
The 30 Sensex companies alone, which are among the biggest companies in the country, now account for nearly 50% or about Rs 47 lakh crore of total investor wealth.
In the broader markets, the mid and smallcap indices were up 0.3% each, underperforming the BSE benchmark index which gained 0.5%.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
ONGC, Sesa Sterlite, Tata Steel, RIL and HDFC emerged as the biggest losers
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
The rupee fell to a two-year low of 64.84 against the US dollar.
The breadth, indicating the overall health of the market, turned negative from positive
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
Several Sensex stocks hits 52-week low in intra-day trade on Monday with financials leading the decline.
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.
Markets snapped their 8-day winning streak.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
For the seven months since February 2014, the benchmark index surged nearly 27%.
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Markets closed in the red on domestic worries.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
Capital goods, IT, auto and pharmaceuticals lead gains for the financial year
The 30-share Sensex gained 117 points to end above 29,000 at 29,006 while the 50-share Nifty gained 32 points to close at 8,761.
Tata Group's CLiQ is the latest to join the e-commerce club, to compete with the likes of Amazon, Flipkart and Snapdeal.
The 30-share Sensex ended down 90 points at 19,429 after hitting an intra-day low of 19,398 and the 50-share Nifty ended down 40 points at 5,881 after touching an intra-day low of 5,871.