The 30-share Sensex ended at 16,752 up 13 points and the 50-share Nifty ended at 5,046 marginally down by 2 points.
The Sensex and the Nifty reached an intra-day high of 16,784 levels and 5,021 mark, respectively.
On the global front, most of the Asian markets were closed on account of Labour Day.
Nikkei ended marginally lower at 8,766, cutting short a four-day winning streak after Greece and its creditors failed to reach a deal over the weekend to avoid a default. European markets are trading on a mixed note.
Back home, index heavyweight Reliance Industries ended nearly 3% down on reporting disappointing numbers in the quarter ended December 2011.
However, the buyback offer limited the downslide. The company is going to buyback of Rs 10,440 crore worth of shares at up to Rs 870 a share.
BSE Metal index declined 2% after LMEX, a gauge of six metals traded on the London Metal Exchange dropped 1.06% on Friday.
Sterlite was the top Sensex loser, down 5% post the announcement of poor Q3 numbers.
Sterlite Inds posted a net profit after tax at Rs 913.52 crore for the third quarter ended December, 2011, down 17% from Rs 1,101 crore in the corresponding quarter last year.
Hindalco, Coal India and Tata Steel declined between 2-4%.
Among Auto segment, Maruti Suzuki is the top Sensex gainers, up 6% shrugging off the poor Q3 numbers.
Its net profit fell 63.72% to Rs 205 crore. However, Hero MotoCorp declined by nearly 4%.
From the Capital Goods space, BHEL gained by almost 3%. Larsen and Toubro (L&T) ended marginally higher, gained 6% from the day's low after reporting strong 28% year-on-year (y-o-y) growth in order inflow at Rs 17,129 crore for the quarter ended December 2011, as compared to Rs 13,366 crore in the corresponding quarter of previous fiscal.
Interest rate sensitive Realty pack ended positive on expectations that the RBI will start cutting interest rates in the coming months to support the slowing economy.
DLF zoomed nearly 2.5%.
FMCG majors ITC and HUL gained by nearly 1%
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