The 30-share BSE Sensex closed at 16,356.03, down 1.93 points, after seeing an intraday high of 16,422.40 and low of 16,160.80.
The 50-share NSE Nifty touched an intraday high of 4918.80 and low of 4827.15, before closing the session at 4899.70, up 17.65 points.
The broader indices outperformed the benchmark indices, as about 2191 shares advanced while 755 shares declined on the BSE.
Nearly 189 shares remained unchanged. The BSE Midcap Index was up 1.81 pc and Smallcap up 2.72 pc.
Buying was seen in oil & gas, telecom, auto (post monthly sales numbers), pharma, select infrastructure, technology and metal stocks.
Jindal Steel, GAIL and Idea Cellular were the other big gainers, which shot up 4 pc each.
However, selling in NTPC, SBI, HDFC Bank, Infosys, ITC, HUL, Cairn, SAIL, L&T, PNB, Tata Power and Reliance Capital limited the gains as well as aided to the volatility.
Nifty tests 4900 mark; realty, metal gain
At 12.44 pm, the Nifty tested the 4900 mark and was volatile in trade.
The Sensex was up 3.94 points or 0.02 pc at 16361.90, and the Nifty was up 13.60 points or 0.28 pc at 4895.65.
About 2146 shares advanced, 735 shares declined, and 254 shares were unchanged.
Buying was seen in consumer durables, realty, metal, pharma and auto stocks. Selling pressure was seen in IT and FMCG stocks.
In the largecap space, BPCL was the top gainer on the Nifty with close to 7 pc gain. Jindal Steel, Unitech, Grasim and Axis Bank were up 2-5 pc.
On the losing side, Infosys, HUL, Reliance Capital, Hindalco and TCS were down 1-3 pc.
Nifty volatile with negative bias; TCS, SBI dip
At 11:30 am, the Nifty was trading marginally lower amid volatility but was holding the 4850 level.
The 30-share BSE Sensex was trading at 16290, down 67 points and the Nifty was at 4874, down 7.6 points.
The broader indices were outperforming the benchmark indices. The BSE Midcap index was up 1.3 pc and the Smallcap was up 2.3 pc.
The market breadth was in favour of advances; about 2062 shares advanced while 812 shares declined on the BSE. Nearly 261 shares were unchanged.
Telecom, realty, pharma, auto, oil marketing and select metal companies' shares were seeing buying interest.
However, the sell-off in Infosys, TCS, SBI, NTPC, HDFC Bank, SAIL, HUL, Cairn, Hindalco, ITC, HDFC, PNB and Tata Power was putting pressure on the markets.
Sensex opens lower on weak Asian cues; IT dips
The Sensex opened the day on a lower note following weak Asian cues.
Technology, metal and select banking stocks were down while telecom & oil marketing companies' shares gained.
At 9:02 am the Nifty was trading at 4845, down 36 points and the Sesnex was at 16227, down 130 points.
The CNX Midcap fell 25 points to 7176, as about 327 shares advanced while 407 shares declined on the NSE.
Among the frontliners, Reliance Capital, Hindalco, HCL Tech, Infosys, Sterlite Industries, Tata Motors, HDFC Bank, DLF, TCS, Wipro, Jaiprakash Associates and SAIL were seeing selling pressure in early trade.
However, BPCL, ONGC, ITC, Suzlon Energy, Bharti Airtel and Idea were the gainers.
Asian markets were trading lower. Shanghai fell 2.3 pc. Hang Seng, Jakarta and Taiwan fell 1-1.5 pc. Nikkei, Straits Times and Kospi declined 0.4-0.7 pc.