Tech Mahindra was the top loser in the Sensex pack, shedding 2.51 per cent, followed by Bajaj Auto, Reliance among others.
Axis Bank was the top gainer; Sun Pharma, Ultratech Cement, HUL, ITC and SBI were also trading in the green.
At the interbank foreign exchange the rupee opened at 71.28, then gathered momentum and touched 71.23 against the USD.
After swinging over 260 points during the day, the 30-share BSE Sensex ended 17.14 points, or 0.04 per cent, lower at 41,558.
The rupee could not hold on to the gains and was trading at 71.32 against the dollar at 0955 hrs.
The 30-share BSE Sensex was trading 109.18 points or 0.26 per cent higher at 41,684.32.
Forex traders positive opening in domestic equities supported the rupee.
The 30-share BSE Sensex was trading 161.85 points or 0.39 per cent higher at 41,325.61.
Indian banks have shifted towards the retail market in recent years in response to a rise in soured corporate loans.
The 30-share BSE Sensex ended 181.40 points, or 0.44 per cent, lower at 41,461.26.