The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
Yes Bank and Tata Motors were the biggest losers in the Sensex pack, slumping 8 per cent.
Large sectors such as metals, mining, machinery, and transportation have seen a decline.
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.
In the Sensex pack, Hero MotoCorp, IndusInd Bank, Bajaj Auto, Maruti and M&M were the top gainers, spurting up to 2.66 per cent.
The stock markets, which had opened in the green on rate cut hopes, tumbled after the monetary policy announcement.
In the broader markets, the mid and smallcap indices were up 0.3% each, underperforming the BSE benchmark index which gained 0.5%.
Sectors have potential to create jobs, add economic value: FM.
IT shares gain, followed by Power and PSU; Weakness noticed in Oil & gas space.
Despite the recent slowdown, e-commerce tops the projected average salary hike list
Through the past 12 months, the Bank Nifty has risen 55%
Ajit Balakrishnan on learning from past technology revolutions.
In the December quarter, Sensex earnings had contracted 5 per cent.
Top losers in the Sensex pack on Friday included Bajaj Finance, ONGC, IndusInd Bank, PowerGrid, L&T, Axis Bank, NTPC, Bharti Airtel, HDFC, HDFC Bank and Kotak Mahindra Bank, falling up to 2.08 per cent.
Though riskier than diversified equity funds, infrastructure funds make good investment sense.
'Given all the linkages, the monthly registration data for new vehicles, may well be the single most accurate indicator of India's economic health,' points out Devangshu Datta.
Mid- and small-cap companies seem to have done better than top-tier companies
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Two out of three times, the market has delivered positive returns.
Offloads stake in financial, auto and pharma sector companies.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
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