The 30-share Sensex shut shop at 16,912.77, up 35.61 points and the 50-share NSE Nifty gained 9 points, to end at 5,042.05.
On the negative side were FMCG and oil & gas stocks which capped the gains to large extent. BHEL and SAIL were among the other losers.
Telecom company Bharati Airtel shot up 2.7 per cent on the news of the company buying Bangladesh mobile firm Warid.
The markets were volatile and saw consolidation through out the day as the traders were cautious after Sensex shed over 200 points on Tuesday, Dec 15.
4: 27 PM
Mkts reel under sell-off in FMGC, power, metal
The markets remained on the negative side due to the selling in banking, oil & gas, FMCG, metal, power and select capital goods companies' shares.
Buying in telecom, technology, select pharma and auto stocks capped the losses to a certain extent.
At 1: 38 pm, BSE Sensex was trading at 16,843, down 33 points and the Nifty was at 5,019, down 13 point. The broader indices were flat.
With the news of the company planning on buying 70per cent stake in Bangladesh operator Warid, Bharati Airtel surged 2.6 per cent.
After Aptech signed pact with New Life Group of Philippines, its stock rose 2.5 per cent.
Among the largecaps, Tata Motors, M&M, Wipro, Sun Pharma, Idea Cellular and Siemens gained 1 to 3.7 per cent. The losers were Jaiprakash Associates, SAIL, Axis Bank, Unitech, Cipla, HUL, L&T, DLF and ITC fell 1 to 2.5 per cent.
Among the midcaps, Havells India, REI Six Ten, M&M Financial, Jubilant and Emami gained 3 to 4 per cent, while Indiabulls Real, Lanco Infratech, Sunteck Realty, Asian Star and Aban Offshore lost 2.5 to 5 per cent.
In the smallcap arena, Himadri Chemical, Hercules Hoists, Greenply Industries, Century Plyboard and Vardhman Textile shot up 9 to 15 per cent while Ruchinfra, Orchid Chemical, Kwality Dairy and Advani Hotels plunged 4.5 to 10 per cent.
2: 27 PM
Sell-off putting pressure on benchmarks
Trading amid volatility, NSE Nifty touched a low of 5,001 and is hovering around the 5k mark. Benchmarks were under pressure due to the sell off in banking, FMCG, oil & gas, metal, power and select technology stocks.
At 10: 58 am, Sensex was trading at 16,808, down 68 points and the Nifty was at 5,009, down 24 points. The broader indices dipped 0.3 per cent each.
The losses were limited marginally by the buying in telecom and select pharma stocks.
With the state-owned oil-marketing companies cut jet fuel prices for the second time, the aviation stocks were buzzing on the bourses. SpiceJet surged 7 per cent while Jet Airways and Kingfisher Airlines went up 3.3 per cent each.
The largecap losers were SAIL, BPCL, Jaiprakash Associates, Axis Bank, Cipla, Sterlite Industries, Hero Honda, Maruti Suzuki and HDFC Bank were down 1 to 2 per cent.
Among the midcaps, Mcleod Russel, Rolta and BF Utilities were up 2.4 to 2.6 per cent while Indiabulls Real, Andrew Yule, Jagran Prakashan, Andhra Bank and Essar Shipping went down 3 to 5 per cent.
In the smallcap arena, Himadri Chemical shot up 14 per cent, while Gulf Oil Corp, Diamond Cables and Kolte-Patil gained 5.5 to 6.6 per cent.
The losers were Jindal Worldwide, Kwality Dairy, Gee Kay Finance and Bajaj Auto Finance down 4 to 5 per cent.
12: 35 PM
Mkts open flat with -ve bias; FMGC, banking down
Weak global cues forced the Indian markets start the day on a flat note with a negative bias. At 9:56 am, NSE Nifty shed 20 points to 5,014 and BSE Sensex was down 60 points at 16,819. The CNX Midcap slipped 10 points to 7,146.
Banking and FMCG stocks were under selling pressure. However, technology, telecom and auto stocks were trading in the green.
SAIL, Axis Bank, HDFC Bank, ICICI Bank, Suzlon Energy, Grasim, Unitech, ITC, HCL Tech, HUL, Reliance Industries, Reliance Power and Reliance Capital were frontline losers in early trade.
Among the frontliners, the gainers were Bharti Airtel, M&M, Cipla, Sun Pharma, Cairn and Tata Motors.
Among the midcaps, the losers were Orchid Chemical up 2 per cent, Dena Bank, Vijaya Bank and UCO Bank down 0.5 to 1.5 per cent, Balrampur Chini and Indiabulls Real down over 1 per cent.
The gainers were Subex, Aptech and Thinksoft up 0.7 to 2 per cent. Bouncing back after seeing profit booking on Tuesday, Dec 15, Cox & Kings gained 1.3 per cent.
10: 25 AM