The bulls failed to hold on to the momentum but managed to push the index near its previous close on Friday making a bullish candle on an intraday basis on daily charts. The index just managed to close above its crucial psychological support level of 10,750\.

Weak global cues weighed on the sentiment on D-Street in the morning session but string domestic cues and strong rally is seen in the previous session helped bulls to make a comeback. Although, Nifty closed 0.70 point lower but recouped nearly 60 points of losses.

The S&P BSE Sensex closed 19 points lower or 0.05 percent at 35,443, while the Nifty50 ended 0.70 percent down at 10,767\.

"Key benchmark indices opened lower and hit intraday low in early trade only to recoup most losses to finally close the day near the flat line. Selling was largely triggered by profit booking following two straight sessions of gains in Indian markets," Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund told Moneycontrol.

"Additionally, weak global cues also had a negative impact on investor sentiment. On the macro front, yields on the 10-year government bonds hit over 8 percent in the opening session on Friday, the first time since December 2014, but soon declined ahead of weekly bond auction due later in the day," he said.