On a weekly basis, both key indices Sensex and Nifty recorded a rise of 478.83 points, or 1.78 per cent, and 156.55 points, or 1.89 per cent, respectively.
Shares of Tata Consultancy Services, considered to be the crown jewel of Tata Group, fell 3.90 per cent to Rs 2,252 apiece on BSE on concerns about its future after its chief N Chandrasekaran was elevated as chairman of Tata Sons.
However, the Bengaluru-based company has reported a 7 per cent growth in its consolidated net profit at Rs 3,708 crore for the October-December quarter.
Earlier, buying activity got a boost from positive economic data as industrial production in November grew 5.7 per cent against a contraction of 3.4 per cent in the same month a year ago and December retail inflation fell further to a multi-year low of 3.41 per cent.
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The benchmark BSE index had opened higher 27,378.01 and advanced to to hit a higher of 27,459.75 largely in tandem with a firm trend at other Asian bourses. Later, it slipped into the negative zone to touch a low of 27,143.07, but finally ended 9.10 points, or 0.03 per cent, down at 27,238.06. The gauge had rallied 520.57 points in the past three days.
Asian stocks ended mixed with key indices like Hong Kong's Hang Seng rising 0.45 per cent and Japan's Nikkei 0.80 per cent. While Shanghai Composite index ended 0.21 per cent lower.
Of the 30-share Sensex pack, 15 closed with gains, while
others ended in the negative terrain.
Small-cap and mid-cap indices fell 0.57 per cent and 0.37 per cent respectively after retail investors locked-in gains at existing levels.
M&M gained the most among Sensex constituents by rising 1.80 per cent to Rs 1,301, followed Power Grid at 1.60 per cent to Rs 203.05.
However, SBI fell by 1.76 per cent, followed by Maruti Suzuki (1.44 per cent), Coal India (1.23 per cent), Hero MotoCorp (1.23 per cent), Lupin (1.17 per cent), ITC Ltd (0.93 per cent) and Asian Paints (0.85 per cent).
Shares of Bank of Baroda slumped 10.26 per cent to Rs 168.75 after it posted lower-than-expected quarterly profits on Friday.
Among the BSE sectoral indices, IT rose by 0.86 per cent followed by Teck (0.67 per cent), Power (0.37 per cent), Metal (0.31 per cent) and Bankex (0.14 per cent).