The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
Other Sensex gainers were Infosys, Wipro, ICICI Bank, Hero MotoCorp, L&T, Axis Bank,, Tata Steel, HDFC and Cipla.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
India Inc on Saturday cheered the road map for lowering corporate taxation.
Both the indices ended at their highest levels since February 1.
A series of flip-flop on policies and a non-existent charging infrastructure are the biggest challenge in achieving the target of selling 6-7 million hybrid and electric vehicles by 2020.
The S&P BSE Sensex dropped 207 points to end at 25,230.
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.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
The Sensex has now lost 878.32 points in six sessions -- its longest string of losses in six months.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
ITC, Sun Pharma, HDFC and Coal India were among the top gainers.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Product launches to drive incremental volume growth for players such as Maruti Suzuki; medium and heavy commercial vehicle revival on track.
It was the second straight week of gains for the benchmarks.
Bajaj Auto's margins are expected to expand 100 basis points, as volumes have recovered.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
Financial shares were the top losers.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
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.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
Anand Sharma working tirelessly for extension of tax breaks that expired on March 31, 2010.
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.
The sharp fall in the rupee's value against the dollar during the July-September quarter, it turns out, has come as a boon for corporate earnings.
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.
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
The NSE Nifty after shuttling between 10,441.90 and 10,341.90, ended 6.15 points, or 0.06 per cent down at 10,380.45.
Among the Sensex 30 stocks, new entrant Sesa Goa soared 22 per cent to Rs 187, while TCS rose 11 per cent to Rs 2,023.
Analysts worry about possible loan waiver.
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
The MFN (Most Favoured Nation, meaning non-discriminatory treatment for each other) issue is of prime importance to India, as it wants to have greater access in the Pakistani markets.
IT sector replaces auto sector after a 6-month gap.
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.