Buying interest was seen in technology, realty, cement, power and select metal stocks. Heavyweight Reliance Industries remained supportive.
The 30-share BSE Sensex closed at 17,509.80, up 87.29 points or 0.5 pc, after seeing recovery of 233 points from day's low of 17,276.46.
The 50-share NSE Nifty showed recovery of 64.4 points from intraday low of 5,169.55, before closing at 5,233.95, up 0.45 pc or 23.55 points.
Bharti Airtel, BHEL, Sterlite Industries, Cairn India, Sun Pharma and ITC were the other losers in trade today.
Nifty extremely volatile in trade; banks, auto dip
At 01:57 pm, the Nifty was extremely volatile in trade. Technology, cement, select metal and power stocks were seeing buying interest.
The 30-share BSE Sensex was trading at 17,451, up 29 points and the Nifty was at 5,213, up 3.4 points.
The broader indices were flat, as about 1,371 shares advanced while 1,560 shares declined on the BSE. Nearly 165 shares were unchanged.
In the largecaps, TCS, Infosys, ACC, Wipro, Hindalco and SAIL gained 1.5-4 pc
Bharti Airtel, Sterlite, BHEL, Jindal Steel, Cairn, Sun Pharma, ITC, L&T, Suzlon Energy and Reliance Communications were the losers.
Nifty trading below 5200; realty, banks down
At 11.32 am, the Nifty was trading below 5200 mark. Markets also saw selling in interest rate sensitive sectors like realty, banks, auto and metals.
The Sensex was down 62.65 points or 0.36 pc at 17359.86, and the Nifty down 23.80 points or 0.46 pc at 5186.60.
About 1359 shares advanced, 1560 shares declined, and 176 shares were unchanged.
In the largecap space, buying was seen in TCS, Wipro, Ambuja Cements, Infosys and ACC.
On the losing side, Mahindra and Mahindra, SBI, Jindal Steel, ICICI Bank and Sterlite Industries were down 2-3 pc.
Top gainers on the BSE Midcap were Ipca Labs, BOC India, KGN Industries, PTC India and KEC International were up 4-5 pc.
Top losers on the BSE Midcap were Sunteck Realty, Gammon Infra, Phoenix Mills, Balrampur Chini and Dena Bank were down 2-3 pc.
Sensex recovers; Infy, TCS, RIL gain
The Sensex showed smart recovery in the first one hour of trade and was witnessing volatility with negative bias.
The 30-share BSE Sensex was trading at 17,404, down 18 points and the Nifty was at 5,204, down 5.5 points.
The market breadth was mixed; about 1,487 shares advanced while 1,411 shares declined on the BSE. Nearly 195 shares were unchanged.
Buying interest was seen in technology, metal, oil marketing, power and select cement companies' shares.
Bharti Airtel, Sterlite, Cairn India and Sun Pharma, Reliance Industries, Siemens, ABB and HUL were the other gainers.
In the largecaps, ACC, Hindalco, TCS, Tata Steel, Infosys, ABB, BPCL, SAIL and Ambuja Cements were up 1-2 pc .
M&M, HDFC Bank, ICICI Bank, Sun Pharma, DLF, Axis Bank, Cairn India and Suzlon Energy fell 1-2 pc.
Asian markets continued sell-off; Shanghai and Hang Seng fell 2.3 pc each. Nikkei, Kospi, Taiwan and Jakarta slipped 1 pc each. Straits Times declined 0.65 pc.