The Sensex closed at 16,693, down 88.43 points while the NSE Nifty closed at 27.60 points to settle at 4958.95.
Banks, steel push Sensex down 100 pts
At 13:30 PM the Sensex was down over 100 points as pharma, realty, power and oil & gas stocks gained.
Infosys, ICICI Bank, L&T, TCS and Bharti Airtel negatively traded.
Top losers on the Sensex were TCS,Tata Steel, Hindalco, Infosys and Sterlite Ind ar.
Top gainers were Sun Pharma, ONGC, DLF, ITC and Maruti Suzuki.
Top gainers on the Midcap were JM Financial, Motherson Sumi, GTL Infra, Kingfisher Air and United Brewerie. They increased by to 6 to10 per cent.
Top gainers on the Smallcap were Indian Hume Pip, Surana Ind, Halonix, Swaraj Engines and Whirlpool.They dipped from 10 to 12 per cent.
Oil, gas, power push Nifty up
At 10:36 AM, the oil & gas, power, capital goods, pharma and select auto stocks helped the Nifty to recover and nearly reach its closing value.
Bharti and Tata Motors were the other losers.
In the midcap space, Videocon Industries increased by 7 per cent.
Motherson Sumi gained 7 per cent.
Spice Communication rose by 5.54 per cent as the company received shareholder approval to merge with Idea.
Carborundum rose by 66 per cent while Berger Paints increased by 4.49 per cent.
However, Welspun Gujarat, Allcargo Global, Parsvnath, Atlas Copco and JSW Steel decreased by 1to 3 per cent.
In the smallcap space, Surana Industries, Visa Steel, Swaraj Engines, Shrenuj & Company and Vikas WSP increased by 7 to 13% while KGN Industries, PVP Ventures, HBL Power, WABCO-TVS and Panyam Cements slipped from 2 to 5 per cent.
Sensex retreats on weak Asian cues; HCL, TCS dip
While Nifty tested 4950 in early trade, weak global cues led to Sensex retreating on opening trade.
At 9:56 am, the Sensex was down 102 points at 16,679 and the Nifty fell 27 points at 4,958.
The broader indices were down marginally.
The losers in early trade among the frontliners were Hindalco, Sterlite Industries, Tata Steel, ICICI Bank, HCL Tech, Cairn, Tata Motors, TCS and Infosys.
Among the midcaps, Strides Arcolab surged 6.5 per cent, and in the realty pack, IVR Prime was up 5 per cent, Gujarat NRE Coke was up 1.3 per cent, Mahindra Satyam went up 2 per cent, Dhanlakshmi Bank gained 3 per cent and PVR was up 3.5%.
However, Sesa Goa lost over 3 per cent.
10: 54 AM