However, selling in telecom, technology, FMCG, realty and infrastructure stocks continued.
Anil Dhirubhai Ambani Group companies like Reliance Communications, Reliance Power, RNRL, Reliance Infrastructure and Reliance Capital also declined by 2 to 3 per cent.
The Sensex closed at 166.93 points or 0.99 per cent while Nifty shut at 50.25 points.
Banks, Infy help Sensex to rise
At 1.14 pm, the Nifty held on to the 5000 mark as a support while selling was seen in IT, capital goods, realty, power and auto stocks.
Meanwhile bank, metal, and pharma stocks witnessed buying interest.
Reliance, Infosys, ICICI Bank, HDFC Bank and Power Grid Corp contributed to the Sensex.
However, L&T, Bharti Airtel, Reliance Comm and TCS were not helpful.
Top gainers on midcap were 3M India, UCO Bank, Moser Baer, Bajaj Finserv and IOB. They increased by 9 to 13 per cent.
Top gainers on the smallcap were JSW Holdings, Aarti Industries, Orbit Corporation, Cinemax India and Vikas WSP. They rose from 14 to 18 per cent.
Nifty trades low; power, tech, auto see rise
At 12:04 pm, the Nifty traded low hovering around the 5,000 mark.
Bharti Airtel dipped by 2.5 per cent.
Selling was seen in capital goods, technology, power, auto and telecom stocks.
But buying in metal and select pharma stocks and those of ONGC, DLF, ITC, Axis Bank, PNB and HDFC Bank excelled.
In the largecaps, Jaiprakash Associates lost 5.4 per cent, Suzlon Energy reduced by 3.7 per cent while Tata Power, Reliance Infrastructure, M&M and Reliance Capital decreased from 1 to 2 per cent.
In the midcap space, 3M India, Moser Baer, Bajaj Finserv, Nirma and Allcargo Global increased by 9 to 12.5 per cent while Jubilant, Gujarat NRE Coke, Bharat Forge, Tulip Telecom and Apollo Tyres dipped by 4 to 9 per cent.
In the smallcap space, Aarti Industries, JSW Holdings, NRB Bearings, Ador Welding and Vikas WSP rose from 15 to 17.5 per cent while KGN Industries, PVP Ventures, Ramco Ind, Jindal Worldwid and Religare Techno slipped by 7.5 to 9.5 per cent.
Sensex opens uneven, Bharti, Infy dip
At 9:57 am, the Nifty was up 4.5 points at 5,024 and the Sensex was up 14 points at 16,900.
Jaiprakash Associates reduced by 4 per cent as the company sold 4 crore treasury shares at Rs 238.5/share.
Suzlon Energy dipped by 2.54 per cent.
Bharti Airtel was down by 1. 3per cent while Infosys Tech and TCS lost.
However, Sterlite Industries, NTPC, DLF and Cairn India were the gainers.
Midcaps like Globus Spirits rose by 8 per cent, Jindal Cotex increased by 5.5 per cent, orbit corp and ajmera realty were up by 1.5 to 2.5 per cent.