After touching the 17,000 mark, the BSE Sensex saw fag-end profit-booking erode some gains and it closed just 72 points up on selective buying amid firm global markets on hopes that the eurozone debt crisis may ease.
After climbing to three-week high, the Sensex dipped on profit-booking in last 30-minutes of trade, closing with a gain of 71.73 points at 16,877.06. Intraday, Sensex touched 17,003.71, level last seen on November 15, 2011.
The broad-based National Stock Exchange index Nifty climbed to 5,099.25, before closing 23.45 points up at 5,062.60.
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Brokers said firm Asian markets and higher openings in Europe strengthened investor sentiment amid reports that EU leaders may successfully evolve a concrete plan to end the euro-zone debt crisis.
They said, however, that domestic indicators were mixed as the government put on hold its decision to allow FDI in multi-brand retail, but it led to parliament proceedings which had been disrupted throughout the winter session thus far.
After being among the worst performers most of this year, the equity market witnessed steepest rally since July 2009 last week on expectations that RBI might pause interest-rate hike in its policy review meeting on December 16, 2011.
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The surge was led by the second most heaviest on Sensex, Infosys Ltd which was up 1.95 per cent.
In the 30-BSE index kitty stocks, 21 advanced while nine closed with losses.