The BSE Sensex shut shop at 16,810.81, up just 21.07 points, and NSE Nifty ended at 4,997.05, up 8.45 points.
Despite the positive effect of the buying in the banking, technology, FMCG select power and metal stocks, sell-off in heavyweight Reliance Industries Ltd (RIL) on Hardy's announcement, telecom and capital goods stocks weighed on the markets.
Index heavyweight, RIL slipped 4 per cent. However, ITC's better than expected numbers supported the markets. ITC gained 5 per cent.
At the time of Indian markets' close, European markets were trading up by 1 per cent and Asian markets shut shop on a positive note.
Nifty shrugs off +ve cues and hovers aroung 5k
Shrugging off positive global cues, Nifty erased all of its early gains and was hovering around the 5k mark. However, buying continued in technology, FMCG, banking and select power stocks.
At 2: 00 pm, Sensex was down 21 points at 16,768 and the Nifty was down 3 points at 4,985. However, the broader indices were up 0.9 to 1 per cent.
Reliance Industries lost 3.6 per cent. L&T slipped over 2 per cent and GAIL down over 4.7 per cent. BHEL, SAIL, Grasim, Reliance Communication, Tata Steel, Tata Motors and Jaiprakash Associates declined 1 to 3 per cent. Bharti Airtel was down 0.6 per cent.
In the banking space, Axis Bank, ICICI Bank and PNB were up 1 to 2.7 per cent. HDFC Bank, Kotak Mahindra and SBI rose 0.6 to 0.9 per cent.
Technology stocks Infosys, Wipro, TCS and HCL Tech gained 1 to 2 per cent.
In the FMCG arena, ITC shot up 4.12 per cent and Dabur India up 3.71 per cent. Godrej Consumer, Britannia, Colgate, Tata Tea and United Spirits were up 1 to 2.4 per cent. HUL rose 0.50 per cent.
3: 23 PM
Nifty holds 5k mark on buying across sectors
Buying continued across all sectors helping Nifty hold the 5,000 mark. Only four stocks on the Nifty were in the red including, GAIL and L&T down1.8 per cent each and,Reliance Industries and Grasim down 0.3 per cent.
Broader indices were outperforming benchmarks, up 1.6 per cent each.
At 11: 10 am, the Sensex was up 132 points to 16,922 and the Nifty gained 42 points at 5,030. On the sectoral front, the BSE Healthcare, Realty, FMCG, Metal, Bank, IT and TECk indices were up 1 to 2 per cent.
Among the midcaps, Jubilant was up 12 per cent, Piramal Healthcare, Redington, Gujarat State Petronet and IndusInd Bank gained 4.5 to 7.5 per cent.
However, KGN Industries, Shriram City, J&K Bank, Coromandel International and Apollo Hospital fell 0.7 to 2.7 per cent.
In the smallcap arena, Shriram EPC surged 13.82 per cent. Agro Tech Foods, Cranes Software, Ador Welding and Brigade Enterprises went up 7 to 10 per cent while However, Geekay Finance, aurionPro Solutions, Hikal, FAG Bearings and Essel Propack were the losers, down by 4 to 5 per cent.
12: 43 PM
Mkts bounce back on +ve global cues
Positive global cues and buying across all the sectors helped the Indian markets bounce back and recover most of Thursday, Oct 22 losses. At 9:56 am, BSE Sensex was up 192 points at 16,981 and NSE Nifty gained 58 points at 5,146. The CNX Midcap rose 123 points to 7,037.
Most active on the bourses were Jindal Steel, Sterlite Industries, Hindalco, Tata Steel, DLF, Unitech, Jaiprakash Associates, Ranbaxy Labs, HCL Tech, M&M, BHEL, ICICI Bank, Reliance Infrastructure, Bharti Airtel, ITC, Maruti and HUL.
However, HDFC, L&T, ONGC, Infosys and Reliance Industries were trading flat.
Among the midcaps, technology stocks like Polaris, Subex, Sasken Comm, NIIT, Cambridge Solutions and Cranes Software were up 2 to 5 per cent.
Shasun Chemical, TVS Motors, GSPL, Allahabad Bank, UCO Bank were other gainers while Mahindra Satyam dipped.
10: 21 AM