New Delhi: Markets recovered from weak opening to enter into choppy session for the second day on Friday after noon.
The Bombay Stock Exchange benchmark Sensex had opened down by 1.5% taking cues from weak Asian markets, which was reeling under investor worries of worsening economic crisis.
At 12:20pm, the 30-share BSE Sensex was trading at 9,279.54, 43.26 points up and 50-share NSE Nifty was 13.40 points higher at 2,837.35.
Positive nudge came from buying seen in oil and gas, metal, FMCG, PSU and banking sectors. Indices that were under selling pressure were power, IT, consumer durables and auto.
Sentiment was also boosted as the government left its estimate for gross domestic product growth in the 2007/08 fiscal year unchanged at 9%.
Stocks of Jaiprakash associates are leading the positive sentiment by 4.60% at Rs72.75, along with ONGC by 3.26% at Rs660. Reliance shares were making advances with Reliance Industries by 2.35% at Rs1,297.90, Reliance Infrastructure by 2.24% at Rs567.80 and Reliance Communications by 2.22% at Rs165.65.
Sun Pharmaceuticals was the largest loser on the BSE index by 6.75% at Rs1,066, others were Bhel by 2.96% at Rs1,315.55, Tata Motors by 2.36% at Rs147.00 and NTPC Ltd by 1.61% at Rs86.90.
Meanwhile, Asian markets continue negative trading after dismal US economic data was released on Thursday. Japan’s Nikkei was down by 3.12%, on the other hand Hang Seng was positive at 0.8% gains.