Oil & gas, banking, metal, technology and cement were the major gainers.
The 30-share BSE Sensex closed at 17,032, gained 246 points and the Nifty rose 71 points to 5,059, as per provisional data.
Stocks like Bharti Airtel, Reliance Power, Suzlon and Reliance Capital fell 1.5-3 pc. Maruti, Reliance Infrastructure, Unitech and HCL Tech declined around 0.5 pc.
Nifty trading in the red; RIL, ICICI decline
At 12.06 am, the Nifty was trading marginally in the red. The markets were struggling to find direction on the either side. The Nifty was hovering around 4970.
The Sensex was down 26.50 points at 16759.15, and the Nifty was down 11.50 points at 4977.50. About 1443 shares have advanced, 1366 shares declined, and 621 shares were unchanged.
In the largecaps, top gainers on the Sensex were ACC up 2.2 pc; HDFC up 1.5 pc; Hero Honda up 0.91 pc, NTPC up 0.75 pc & Reliance Communication up 0.67 pc.
On the losing side, Reliance Infra was down 1.83 pc; ICICI Bank was down 1.55 pc; Wipro was down 1.36 pc; Maruti Suzuki was down 1.32 pc & Hindalco Inds was down 1.16 pc.
Nifty volatile; Wipro, ICICI Bank dip
At 11:03 am, the Nifty was witnessing volatility and trading in a narrow range with negative bias. Selling continued in technology, realty and select banking was keeping the markets lower.
The Sensex declined 54 points to 16,731 and the Nifty slipped 19 points to 4,969. The Nifty Nov future was trading with 4 points premium.
The market breadth was marginally positive; about 1,461 shares advanced while 1,330 shares declined on the BSE. Nearly 639 shares were unchanged. The broader indices were modestly higher.
In the largecaps, ACC, Hero Honda, HDFC, NTPC, Reliance Communications, Power Grid Corp and BPCL were up 0.8-1.9 pc.
However, Reliance Infrastructure, Wipro, ICICI Bank, Hindalco, Tata Steel, Reliance Capital, Unitech, Suzlon Energy and HCL Tech fell 1.3-2.7 pc.
In the midcap space, Monnet Ispat, Havells India, Jaiprakash Hydro, Atlas Copco and Thermax were up 3-5.6 pc while KGN Industries, Welspun Gujarat, Hindustan Oil Exploration, United Phosphorous and Patni Computer fell 2-4.6 pc.
In the smallcap space, Bliss GVS, Lakshmi Energy and NDTV went up 7-11 pc while Sahara One, Kanani Industries, Rollatainers, Resurgere Mines and Oscar Investment lost 3-6 pc.
Sensex choppy with negative bias; SBI, DLF dip
The Sensex started the day with a negative bias amid volatility following weak global cues. Realty, select infrastructure, metal, banking, auto and technology stocks were under pressure.
At 9:56 am, the Sensex was down 49 points at 16,736 and the Nifty fell 15 points at 4,974. The CNX Midcap declined 19 points to 7,063. About 225 shares advanced while 449 shares declined on the NSE.
Among the frontliners, ICICI Bank, SBI, M&M, Ambuja Cements, DLF, Unitech, Hindalco, Tata Steel, Sterlite Industries, Maruti, Cairn, Infosys and Jaiprakash Associates were the losers.
However, Suzlon Energy, Power Grid, SAIL, Cipla, ONGC, NTPC, Jindal Steel and HDFC were the other gainers.
Asian markets were marginally mixed. Nikkei and Taiwan Weighted were down 1 pc. Shanghai and Hang Seng fell 0.4-0.65 pc. However, Jakarta and Straits Times gained 0.2-0.4 pc.