Heavyweights Reliance Industries and Infosys led the markets to recovery along with Technology, FMCG, select telecom stocks, Tata Motors, NTPC and Ranbaxy Labs.
However, the gains were capped to a major extent by selling in capital goods, select power stocks along with SBI, ONGC, SAIL, ICICI Bank, M&M, HDFC, Maruti, ACC and DLF.
Sensex closed at 17,164.99, down 1.63 points, after seeing an intraday high of 17,195.49 and low of 17,061.14.
In the midcap space, MindTree, ING Vysya Bank, Chennai Petroleum, Opto Circuits and Monnet Ispat shot up 3.5 to 6pc. However, Andrew Yule, Triveni Engg, Pidilite Industries, M&M Financial and HMT dipped 4 to 6.4pc.
In the smallcap space, Transport Corporation rallied 19.35% and Carol Info gained 17.90pc. INEOS ABS, Indian Metals and KNR Construction went up 7 to 7pc, while Graviss Hospitality, JMD Telefilms, Atco Corp, Titagarh Wagons and Prime Securities tanked 5 to 10pc.
The most active shares on the bourses Man Infraconstruction, Texmo Pipes, Aban Offshore, Shree Renuka, Infosys, Reliance Industries, ICICI Bank, Tata Motors and TCS.
Asian markets closed lower. Shanghai slipped 1.2pc and Taiwan Weighted lost 1.5pc. Hang Seng tanked 0.6pc and Kospi dipped 0.8pc. Straits Times and Nikkei were flat.
Sensex recovers early losses; Reliance up
Sensex recovers from its southbound journey and retrieved early losses. Sensex was trading flat on the buying in Reliance Industries along with technology, FMCG and telecom stocks.
The other gainers were NTPC, Tata Steel, HDFC Bank, Hindalco, Jindal Steel and BHEL.
At 12:49 pm, Sensex was trading at 17176, up 9.5 points while the Nifty was at 5135, down 1 point.
BHEL traded in green after receiving an order worth Rs 3350 crore from Indian Oil.
However, cement, realty, pharma, select auto and power stocks were seeing selling. The other losers in the trade were ONGC, SBI, ICICI Bank, SAIL, HDFC, Axis Bank and Sterlite Industries.
HUL from the FMCG space rallied over 3pc and ITC gained 0.58pc. TCS, Wipro and HCL Tech from the technology pack shot up 2 to 2.4pc. Infosys gained 0.5pc.
Reliance Communications gained 1.5pc, as the company crossed 100 million subscribe mark. Among other telecom stocks, Bharti Airtel went up 0.17pc while Idea lost 0.17pc.
In the midcap space, ING Vysya Bank, Future Capital, MindTree, Godrej Consumer and Whirlpool moved up 2.5 to 6.8pc. However,
Pidilite Industries, KS Oils, Shree Renuka, Triveni Engg and Asian Star lost 3 to 6pc.
In the smallcap space, Transport Corporation, Carol Info, Sadbhav Engg, Manappuram and C & C Construction moved up 5 to 13.5pc, while Richa Industries, Atco Corp, Prism Cement, Maharashtra Polybutenes and OCL Iron dipped 5 to 8.6pc.
Sensex on a southbound journey
After opening on a negative note on the back of weak Asian cues, Sensex was trading lower on the back of profit booking in banking & financial, realty, cement, oil & gas exploration, select capital goods and power stocks.
At 10:09 am, Sensex was trading at 17123, down 43 points and the Nifty was at 5120, down 17 points.
The losses were limited to a major extend by buying in TCS, Wipro, HUL, Tata Steel, HCL Tech, NTPC, HDFC Bank, ITC, Sterlite, Reliance Communications, Jaiprakash Associates and Tata Motors.
Amongst the midcaps, Future Capital, ING Vysya Bank, Godrej Consumer, Whirlpool and Blue Star moved up 2 to 7pc. However, KS Oils, Triveni Engg and Jain Irrigation lost 4.4 to 5.6pc.
Amongst the smallcaps, the gainers were Transport Corp, C & C Construction, Sadbhav Engg, Hitachi Home and Maharashtra Scooters up 5 to 10pc, while Atco Corp, Sanwaria Agro, Maharashtra Polybutenes and OCL Iron down 5 to 6.7pc were on the losing side.
The most active shares on the bourses were Sesa Goa, Bharti Airtel, Tata Steel, Ackruti City, Texmo Pipes, ICICI Bank, Reliance Industries and JSW Steel.
Asian markets were weak in trade. Shanghai slipped 1.16pc. Hang Seng, Kospi and Taiwan lost 0.85pc each. Nikkei and Straits Times were flat. However, Jakarta surged 0.57pc.
Nifty opens on negative note; telecom up
Market opened on a negative note on the back of weak Asian cues. Buying interest were seen in telecom and FMCG stocks. However, Banking, oil & gas exploration, realty, cement, select metal and power stocks were under pressure.
At 9:02 AM the Nifty was trading at 5118, down 20 points and the Sensex was at 17096, down 69 points.
Among the frontliners, ICICI Bank, Reliance Infrastructure, Suzlon Energy, IDFC, Jaiprakash Associates, DLF, Infosys, Ambuja Cements, Unitech were on the losing side.
The gainers were NTPC, ITC, Reliance Communications and Tata Power.
NMDC slipped 3.5pc to Rs 353. Its follow-on public offering was subscribed just 1.25 times on the back of QIB support. The issue received maximum bids at Rs 300, at lower end of price band of Rs 300-350 per share.
Vishal Retail moved up 3.5pc, as the company withdrew proposed merger with Vishal Water World.
Godrej Consumer surged 2pc as the company has bought Nigerian soap brand Tura. Shree Ashtavinayak shot up 3pc.
Bajaj Hindusthan, Balrampur Chini and Shree Renuka Sugars tanked 0.5pc each. However, Triveni Engg gained nearly 1pc on the back of demerger of Steam Turbine business.
Mercator Lines rose 4pc.
Asian markets were trading lower. Shanghai, Hang Seng, Kospi and Taiwan Weighted slipped 1pc each. Nikkei, Jakarta and Straits Times were marginally in red.