BSE Sensex shut shop at 16,875.76, up 40.20 points while NSE Nifty ended at 5066.20, up 6.30 points.
Among the largecaps, Larsen was up 3.37 per cent after posting encouraging Q4 results on Monday, May 17.
PNB, ONGC, Reliance Communications, Wipro, Grasim and Ambuja Cements were the other gainers up 2 to 2.7 per cent. However, Jindal Steel, Tata Motors, Siemens, Sterlite Industries, ICICI Bank, Tata Power and HDFC Bank were the loser, down 1.3 to 3 per cent.
Wockhardt, Motherson Sumi, Karnataka Bank, Essar Shipping and Novartis India were midcap gainers, while Bajaj Finserv, Rolta, Gee Kay Finance, Shree Global Transmission and Shriram City losers.
Zandu Realty, English Ind Clay, Gabriel India, Abbott India and Hawkins Cooker gained among the smallcaps, CCL Products, Ankur Drugs, Federal-Mogul, Subhkam Capital and Centrum Finance lost.
4: 30 PM
Sensex surges 120 points; ITC , RIL up
At 1:00 pm, the markets had recovered more than one percent. Sensex was trading positive and had surged more than 120 points. The Sensex was up 129.38 points or 0.77% at 16964.94.
Nifty was up 31.80 points or 0.63% at 5091.70.
Index heavyweight Reliance was up by 1.32 percent and trading at Rs. 1030. Infosys was trading at Rs 2625.80.
The midcaps like Wockhardt, Motherson Sumi, Novartis India, AstraZeneca and Sun Pharma Advance were up by 6-8.5 percent. ITC was trading at Rs 268 which was up by 0.87 percent from its previous close. Hindustan Lever was trading at 242.25, up by 1.08 percent from its previous close.
Benchmarks in red; Siemens, Tata Motors dip
Benchmarks continue to trade in red. Nifty struggled on break the 5050 mark and was trading in the negative zone.
Selling in realty, banking and auto stocks weighed on the markets. However, on the positive side, consumer durables, capital goods and pharma were witnessing buying interest.
At 11: 50 am, BSE Sensex was trading at 16,820.65, down 14.91 points, while NSE Nifty was at 5049.70, down 10.20 points.
While Larsen, Idea Cellular, Wipro, Reliance Infra and Reliance Communications were the largecap gainers, up 1 to 2.3 per cent; Siemens, Tata Power, Tata Motors, Sterlite Industries and Hindalco dipped 2 to 3 per cent.
Nifty opens flat; IT, FMGC, power, metal down
Due to the lack of cues from the global markets, the Indian markets were lost of direction on opening bell. While the global trading was mixed with marginal gains and losses, the Nifty opened the day on a flat note.
At 9: 08 am, BSE Sensex was down 55.31 points or 0.33 per cent at 16780.25, and NSE Nifty down 22.45 points or 0.44 per cent at 5037.45.
Consumer durables, capital goods, pharma and realty stocks were enjoying buying interest while selling was seen in IT, FMCG, power, metal, telecom and auto stocks .
Up about 0.6 to 2.6 per cent on the Nifty, the top gainers in early trade were Larsen, Idea Cellular, Bharti Airtel, Reliance Communication and HCL Tech.
TCS, Tata Power, Sterlite Industries, Siemens and Hindalco, down 1.3 to 1.96 per cent, were the top losers.
Most of the heavyweights were trading in the red. Reliance Industries was down 0.3 per cent, IT giant Infosys was down 1.06 per cent, and Cigarette major ITC was down 0.75 per cent.
However, Refinery major HPCL was up 0.22 per cent.
9: 39 AM