In volatile trade, the Sensex registered a gain of just under four points and closed at 11,149.17 on Thursday.
The BSE index zoomed to 11,213.03 on heavy buying but rolled back to close 3.99 points higher at 11,149.17. It also touched the day's low of 11,051.75 points.
Similarly, the National Stock Exchange index, Nifty, moved between 3274.75 and 3229.45 points before ending at 3260.10, gaining 5.50 points.
Trading activity was brisk as cement shares rose on expectations of a hike in product price and index heavyweights Reliance Industries and ONGC declined on fears of output losses due to floods in Gujarat.
The index was down by 63.48 points at 11,081.70 in the intra-noon trade, on account of dullness in the Asian markets as the South Korean bank hiked the interest rates by 25 basis points.
Earlier, the Sensex had opened in the green by 50 points as the Consumer Durables and the SmallCap index edged higher on the BSE.
Major gainers on the index in the intra-noon trade were HDFC, Hindalcom Cipla, ACC and Wipro, all up between 0.56 to 1.87 per cent.
Major losers were Bajaj Autp, Reliance Communications, ITC, Satyam Computers, Reliance Industries, Tata Motors and ONGC.