The Nifty tested the 3050 level during the day while the Sensex touched the 9800 level. Today's pull back was largely on the back of year end NAV propping. Domestic funds were largely active in midcap stocks.
Buying was seen in capital goods, telecom, technology, metal, auto and banking stocks. Broader indices' stocks witnessed buying interest from domestic funds, which kept market breadth on the positive side.
The 50-share NSE Nifty closed the day above 3000 mark and went up 1.44pc or 42.80 points, to 3020.95, after hitting a day's high of 3054.30. The 30-share BSE
Sensex has hit an intraday high of 9,826.22, before ending at 9,708.50, up 140.36 points or 1.47pc.
Among the broader indices, the BSE Midcap Index was up 2.27pc or 65.64 points, to settle at 2,956.23 and the Small Cap Index shut shop at 3,246.63, up 1.46pc or 46.58 points.
Sensex near day's high as Europe opens strong
Some optimism returned back in the Indian equities as Asian markets pulled back and positive opening of European markets. Indian
benchmarks were steadily inching higher and were near the day"s highs led by gains in realty, metals and pharma space.
At 12:30 pm, Bombay Stock Exchange"s Sensex was at 9731.55, up 163.41 points or 1.70 per cent. The broader index touched a high of 9739.45 and low of 9547.21 in trade so far.
National Stock Exchange"s Nifty was at 3030.10, up 51.95 points or 1.74 per cent. The broader market hit an intra-day high of 3033.65 and low of 2966.40.
BSE Midcap Index was up 1.47 per cent and BSE Smallcap Index gained 1 per cent.
Amongst the sectoral indices, BSE Realty Index was up 2.71 per cent, BSE Metal Index gained 2.43 per cent and BSE Healthcare Index moved up 2.13 per cent.
BSE Bankex pared losses and was 0.50 per cent up.
Sensex gives away gains; ICICI, HDFC down
Indian key indices gave away most of their initial gains and were drifting towards negative terrain as concerns over uncertainty in the
global markets prevailed. Buying was seen in capital goods, pharma and IT space while banks, metals and realty extended overnight losses.
At 10:40 am, Bombay Stock Exchange"s Sensex was at 9600.19, up 32.05 points or 0.33 per cent. The 30-share index touched an intra-day high of 9739.45 and low of 9576.25.
National Stock Exchange"s Nifty was at 2994.80, up 16.65 points or 0.56 per cent. The broader index touched a high of 3028.15 and low of 2966.40.
Sensex losers included ICICI Bank (-4.28pc), Sterlite Industries (-2.48pc), HDFC Bank (-2.12pc), DLF (-1.84pc) and Hindalco (-1.20pc).
Tata Motors (2.44pc), Jaiprakash Associates (2.42pc), TCS (1.87pc), Ranbaxy Laboratories (1.86pc) and BHEL (1.68pc) were the top Sensex gainers.
Mkts bounce back positive; RIL, Bharti up
The markets bounced back and recovered some losses following positive Asian cues. Metals, auto, banking, realty and capital goods stocks gained.
At 9:57 am, the Sensex was trading at 9,721, up 160 points and the Nifty went up 45 poitns, to 3,022. CNX Midcap was up 32 points, to 3,388.
Among the frontliners, Bharti, ICICI Bank, HDFC, Unitech, Axis Bank, PNB, Reliance Infrastructure, Reliance Capital, Reliance Industries, DLF, Tata Power, BPCL, Tata Steel, SBI, SAIL, Infosys and BHEL were the gainers. However, HDFC Bank and Cairn India lost ground.
Midcap and Small cap space
ICSA India shot up 15pc. Opto Circuits, S Kumars Nationwide, NIIT and Wockhardt gained 6.5-8pc. Fortis Healthcare went up 4.6pc (there were reports that the company may buy 74pc stake at Rs 750 crore in Wockhardt Hospitals) and Moser Baer gained 4.5pc.