The 50-share index oscillated between a high of 4,922.25 and low of 4,850.20 before closing at 4,870.20, a modest gain of 11.95 points, or 0.25 per cent, over its last close.
Market opened on a strong note as stocks rebounded smartly after yesterday's sell-off as investors went on a buying spree in beaten down counters amid hectic shortcoverig supported by better cues emerging from across Asia.
Better-than expected economic growth data from Japan as well as positive US factory production numbers boosted the sentiment across Asian bourses.
The key-index marched forward on firm buying across the spectrum while reaching the day's highest point.
However, with rupee depreciating to a record low as well as the weak European opening led to cautiousness among investors leading to profit-taking that erased nearly the entire gains and shares went into negative terrain, before a modest rebound towards the end of the session.
Fmcg shares were in limelight and attracted good buying interest followed by oil & gas and metal counters. While, infra and auto met with selling.
Ambuja Cement, SAIL, ITC, JP Associates, HDFC, DLF, SBIN, Reliance and Tata Steel were the top percentage-wise gainers from the Nifty pack.
Reliance Infra, L&T, M&M, Bajaj Auto, Cipla, Kotak Bank, Siemens, BPCL, Axis Bank and Asian Paint topped the losers' list.
Turnover in cash segment declined to Rs 9,737.46 crore from Rs 10,549.60 crore yesterday. In all, 5,801.11 lakh shares changed hands in 52,26,961 trades. Market capitalisation stood at Rs 56,42,160 crore.