Down by more than 50 points at one point, the Sensex touched a low of 4,599.61 and a high of 4,772.07 during intra-day trades.
The NSE S&P CNX Nifty index closed at 1,505.05, a gain of 35.60 points.
The market will remain open on Saturday (between 18:10 and 19:25 IST) for muhurat trading, marking the beginning of the Samvat 2060.
The day was marked by volatility with the market moving either way of the break-even in early trades before gaining momentum in the second half of the session.
