The benchmarks shut shop on a positive note due to buying in infrastructure (capital goods + power), telecom, cement, realty, technology and select pharma stocks and ONGC. Positive global cues too helped the markets.
However, the gains were capped by gains due to sell off in Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Sterlite, Nalco and PNB.
The broder indices outperformed, BSE Midcap Index was up 117.50 points or 2.38 per cent, to 5,059.84 and the Smallcap Index closed at 5,719.03, up 2.26 per cent or 126.63 points.
Mkts +ve; TCS, Wipro, Reliance Infra gain
At 1:49 pm, Sensex was up 105.83 points or 0.74 per cent at 14429.84, and the Nifty was up 45.75 points or 1.08 per cent at 4292.75.
The markets recovered and were trading with good gains. Realty, power, capital goods, pharma and IT stocks saw buying and stocks like Infosys, L&T, Bharti Airtel, ITC and SBI were positive contributors to the Sensex.
TCS at Rs 384.50 up 5 per cent, Jaiprakash Asso at Rs 209.40 up 4.02 per cent, Wipro at Rs 391.40 up 3.93 per cent, Reliance Infra at Rs 1,263.85 up 3.30 per cent were the top gainers on Sensex.
Sterlite Ind at Rs 564.60 down 2.18 per cent, ICICI Bank at Rs 687.50 down 1.43 per cent, HDFC at Rs 2,331 dwon 1.04 per cent, HDFC Bank at Rs 1,474.35 down 0.75 per cent, M&M at Rs 703.50 down 0.06 per cent proved to be the top losers on the Sensex.
Sun Pharma was up 3.08 per cent and was trading at Rs 1,320.50.
Benchmarks rangebound; HDFC, ICICI, Tata Steel dip
The markets that opened positive lost some of its gains. However, positive global cues are supporting the markets and capping the losses.
At 11:20 am, BSE Sensex was at 14263.72, down 60.29 points or 0.42 per cent and NSE Nifty was at 4242.95, down 4.05 points or 0.10 per cent. BSE Midcap Index was up 0.80 per cent and BSE Smallcap Index moved up 0.82 per cent.
The gainers on the Sensex were Tata Power, Sun Pharmaceuticals, Tata Motors, Reliance Communications and Hindalco while Sterlite Industries, HDFC, ICICI Bank, Tata Steel and Maruti Suzuki lost.
Among the sectors, BSE Capital Goods Index was up 1.03 per cent, BSE Healthcare Index moved 0.95 per cent higher and BSE Power Index gained 0.67 per cent. However, BSE Metal Index was down 0.80 per cent and BSE Bankex declined 0.72 per cent.
Mkts open positive; buying in Metal, Infra stocks
The markets opened the day on a positive note. It is trading higher amid volatility. At 9:56 am, the Nifty was up 20 points at 4,267 and the Sensex rose 47 points, to 14,371. The CNX Midcap 100 gained 42 points at 5,344 and the Nifty Junior was up 70 points, to 7,670.
Markets open green on back of buying in metal and some infrastructure stocks. However, selling was seen in private banking and FMGC stocks.
The gainers among the frontliners were Hindalco, BHEL, Bharti Airtel, DLF, Axis Bank, Ambuja Cements, Reliance Communication, Suzlon, Nalco, L&T, Reliance Power, SAIL and Tata Motors. The losers were HDFC Bank, ICICI Bank, Maruti Suzuki, ITC, Infosys, HDFC and HUL.
Among the midcap space, IndusInd Bank, Yes Bank and IDBI Bank were witnessing pressure. Grreat Offshore went up by 2 per cent. Ahead of Railway budget, Texmaco, Kalindee Rail and BEML saw buying interest.
Punj Lloyd surged 1 per cent, RNRL went up 0.5 per cent while Religare Enterprises fell 1.3 per cent.