The Sensex closed at 17,158, down 11 points and the Nifty was at 5,122, down 1 point, as per provisional data.
The sell-off in heavyweights like Reliance Industries, ICICI Bank, HUL, Infosys, HDFC, ITC and DLF hammered the Nifty to close just near to previous day's closing value.
However, buying interest remained in telecom, metal, cement, select pharma, oil & gas and technology stocks, which capped all the losses.
Asian markets ended higher; Nikkei shot up 3.8%. Hang Seng, Jakarta and Kospi were up 1-1.5%. Shanghai, Straits Times and Taiwan were flat.
Global cues were positive today. European markets were trading 0.8-1% higher and US index futures gained 0.5% each, at the time of closing of Indian equities.
Sensex trading higher; ACC, Cipla top gainers
At 11:57 am, continuous buying in oil & gas, banking, technology, cement, realty, metal and select infrastructure stocks was helping the Sensex to maintain early gains.
The Sensex was up 116.54 points or 0.68 pc at 17286.45, and the Nifty was up 39.90 points or 0.78 pc at 5163.15. About 1944 shares advanced, 907 shares declined, and 583 shares were unchanged.
In the largecap space, Cipla was the top gainer on the Nifty with 3 pc gain. Reliance Capital, ACC, Reliance Power, Hindalco and Grasim were up 2.5-2.7 pc each. On the losing side, Tata Motors, Cairn India, IDFC, Larsen and Infosys were down 0.1-2 pc.
Asian markets were trading higher barring Shanghai. Nikkei shot up 3.8 pc and Kospi was up 1.5 pc. Hang Seng and Jakarta were up 0.5 pc each. Straits Times and Taiwan were marginally in the green. However, Shanghai lost 0.65 pc.
Nifty trading above 5,150; telecom, realty up
At 10:56 am, the Nifty moved up further and was trading above the 5,150 with gains of around 30 points.
The Sensex was trading at 17,296, up 126 points and the Nifty was at 5,158, up 35 points.
The broader indices were outperforming the benchmark indices, up 1-1.3 pc. The market breadth was positive; about 1,917 shares advanced while 896 shares declined. Nearly 620 shares were unchanged.
Buying continued in technology, telecom, FMCG, banking, realty, select metal and infrastructure stocks. However, selling was seen in Tata Motors, SAIL, ACC and Ambuja Cements.
In the midcap space, Allcargo Global, KGN Industries, Sobha Developer, Jet Airways and IndusInd Bank were up 4-6 pc while Indiabulls Financial, Jain Irrigation, HSBC Invest, Dena Bank and Pantaloon Retail fell 1.5-3 pc.
In the smallcap space, Tata Elxsi shot up 13.5. OCL Iron, Elpro Int, Sanwaria Agro and Action Construction went up 8-10 pc. However, JMD Telefilms, EIH Associated Hotel, Swaraj Mazda, Piramal Glass and Zenith Infotech lost 4-5 pc.
Sensex trading marginally higher; tech, realty up
The Sensex resumed uptrend after a day of consolidation and was trading around 17,250 level.
Telecom, realty, oil & gas exploration, metals and select technology stocks were seeing buying interest.
At 9:56 am, the Nifty was up 20 points at 5,143 and the Sensex gained 76 points at 17,246. The CNX Midcap rose 47 points to 7,354. About 600 shares advanced while 120 shares declined on the NSE.
Among the frontliners, Unitech, Reliance Power, Bharti Airtel, Sterlite Industries, Idea Cellular, Hindalco, Reliance Communications, SAIL, Wipro and HCL Tech were witnessing buying interest.
However, Tata Motors, Ambuja Cements, TCS and Infosys were losers in early trade.
Asian markets were trading mixed. Nikkei was up 2.7% as Yen declined. Kospi and Hang Seng were up 0.5% each. However, Shanghai fell 0.4%. Straits Times and Taiwan Weighted were flat.