A sense of caution prevails among investors who are awaiting some measures from the government to arrest demand slowdown.
The 30-share index pared some opening gains to trade 129.01 points or 0.35 per cent higher at 37,479.34.
After swinging 470 points during the day, the 30-share Sensex settled 38.80 points, or 0.10 per cent, higher at 37,350.33.
The 30-share index pared some opening losses to trade 248.25 points or 0.67 per cent lower at 37,063.28 at 0930 hours.
After surging 515 points during the session, the 30-share Sensex settled 353.37 points or 0.96 pc higher at 37,311.53.
Easing inflation numbers, released after market hours on Tuesday, too helped the recovery in domestic market sentiment, traders said.
At close of trade, the market capitalisation of BSE-listed companies tumbled Rs 2,21,837.81 crore to Rs 1,39,46,997.40 crore.
The 30-share Sensex settled 623.75 points, or 1.66 per cent, lower at 36,958.16.
After rallying 480 points during the day, the 30-share Sensex settled 254.55 points or 0.68 per cent higher at 37,581.91.
After surging 285 points in opening trade, the 30-share index was trading 238.59 points or 0.64 per cent higher at 37,565.95.