The market had fallen back by 716.05 points, or 4.70 percent, after rising by a whopping 6,912 points, or 83 percent, during the long 14-weekly gaining streak.

Analysts attributed this dramatic reversal to buoyant global cues and investors' rollover of positions to derivatives July series which expired on June 25.

They also visualised a range-bound and volatile trade during next week ahead of the full budget that is expected to be a major trigger for the market.

Infrastructure, Capital Goods and Bank stocks attracted brisk activity during the week with high rollover of positions was seen in these sectors on strong optimism that they will get major thrust in the forthcoming budget.

In a high level of volatility in the week to June 27, the Bombay Stock Exchange 30-share barometer recovered by 242.75 points to end the week at 14,764.64 from its previous weekend's close.

The broader 50-share Nifty of the National Stock Exchange also gained 61.90 points or 1.44 percent to finish the week at 4,375.50 from its last weekend's close.