Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
The broader NSE Nifty too dived by 101.65 points, or 0.97 per cent, to close at 10,350.15.
The market breadth, indicating the overall health of the market was strong
Hopes that better-than-forecasted monsoon may help the RBI cut rates sooner than expected, too triggered buying activity.
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.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Adani Ports, HUL and L&T gained the most, while ICICI Bank, ONGC, GAIL and Tata Steel lost the most
Investors have kept their eyes on US-China trade talks and are optimistic about a positive outcome.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
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.
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.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
Capital goods, IT, auto and pharmaceuticals lead gains for the financial year
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Broader gains were capped as investors awaited corporate results from major firms
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
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 Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki helped the index touch record levels.
India's sad export figure put pressure on the rupee
Oil & gas, banking and pharma sector stocks stole the show
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
The broader NSE Nifty gained 22 points to 10,480.60
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
Input prices rose at their fastest rate in 14 months but manufacturers absorbed much of the increase
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
In India, however, the Nifty continues to climb a wall of worry as general elections loom, fiscal deficit surges and the current account deficit is barely under control following subdued gold and crude prices, says Sonali Ranade.
The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
The Nikkei India Manufacturing PMI dipped from 50.3 in November to 49.1 in December.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.