Heavyweights like Bharti Airtel, Infosys, ICICI Bank, BHEL and ITC supported the markets while selling in Reliance Industries, DLF, HDFC, SBI, HUL and Hero Honda capped the gains.
The 30-share BSE Sensex shed 218 points from an intraday high of 16,434.77 and closed 33.31 points higher at 16,216.86.
Volumes were very high, more than Rs 1 lakh crore. Total traded turnover was at Rs 1,01,849.49 crore as against Rs 78,551.9 crore on Wednesday.
The Nifty ended with just 5.15 points gain at 4,819.40, after shedding 69.65 points from day's high of 4889.05, which was its 52-week high as well as new 2009 high.
The market breadth was negative; about 1,144 shares advanced while 1,760 shares declined on the BSE. Nearly 293 shares remained unchanged.
Sensex trading positive; RIL Infy, ICICI gain
At 01:10 pm, the Sensex was trading positive but off from its day's high of 16,434. Buying interest was seen in banks, pharma, metals and IT stocks.
However, some selling was seen in realty and auto stocks. Reliance, Infosys, ICICI Bank, ITC and Bharti Airtel were the positive contributors to the Sensex.
The Sensex was up 76.12 points or 0.47 pc at 16259.67, and the Nifty was up 19.90 points or 0.41 pc at 4834.15.
About 1303 shares advanced, 1552 shares declined, and 340 shares were unchanged.
Top gainers on the Sensex were ICICI Bank at Rs 820.05 up 3.69 pc, Sterlite Ind at Rs 764.70 up 2.24 pc, Tata Motors at Rs 569.30 up 2.22 pc, Reliance Comm at Rs 304.25 up 1.60 pc and Tata Steel at Rs 466.05 up 1.34 pc.
However, top losers on the Sensex were Hero Honda at Rs 1,576.25 down 3.17 pc, Jaiprakash Asso at Rs 233.95 down 1.68 pc, TCS at Rs 552.80 down 1.37 pc, M&M at Rs 825.45 down 1.3 pc and Tata Power at Rs 1,279.50 down 1.01 pc.
Nifty trading strong; ICICI, Infy gain
At 11:04 am, the Nifty was trading strong and was holding above the 4850 level. Asia was also trading higher; Hang Seng, Nikkei, Straits Times and Kospi advanced 2 pc each.
Jakarta and Taiwan Weighted gained 1 pc each. Shanghai was trading with marginal gain.
Buying was seen in banking, technology, oil & gas, telecom, metal and capital goods stocks. However, selling in select stocks like Cairn, GAIL, Hero Honda, Grasim, ACC, Idea, Cipla and Tata Power capped the gains.
The Sensex was up 129 points, to 16,313 and the Nifty up 34 points, to 4,849. The broader indices were up 0.5% each. The market breadth was marginally positive; about 1538 shares advanced while 1300 shares declined on the BSE. Nearly 357 shares were unchanged.
Mkts open positve; Sensex up by 222 pts
The Nifty opened strong following positive global cues and touched a new 2009 high as well as 52-week high of 4889.05.
Financial, real estate, telecom and metal stocks were witnessing buying interest. Big Heavyweight Reliance Industries was up 2 pc.
At 9:56 am, the Sensex was up 222 points, to 16,406 and the Nifty gained 67 points, to 4,880. The CNX Midcap was up 71 points, to 6,287 and the BSE Smallcap up 92 points, to 7,275.
Among the frontliners, ICICI Bank, Reliance Capital, Unitech, DLF, Bharti Airtel, Reliance Communication, Tata Steel, Sterlite Industries, HDFC, Tata Motors, Maruti Suzuki, Reliance Industries, Infosys and SBI were the leading counters.
However, Grasim and ITC were under selling pressure.
In Midcap Space HDIL and Indiabulls Real were up 2 pc. Sobha Developers shot up 7.5 pc, HCC, GMR Infra and GVK Power were up 2-3 pc. GIC Housing Finance was up 6 pc.
Assam Company rose 4.5 pc, Chola DBS up 5 pc and Usha Martin up 2 pc. However, Jet Airways was down 1.5 pc.