The Sensex has gained 53 points to the day's high of 16,412. The Nifty is up 32 points at 4,914.
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(Updated at 1331 hrs)
The Sensex is at 16,347, down 10 points, and the Nifty is at 4,895, up 13 points.
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(Updated at 1251pm)
Markets have recovered from early morning losses and are now flat, albiet with little volatility in a narrow range.
The Sensex had touched a low of 16,160 in morning trades, and is now flat at 16,361. The Nifty is up 17 points at 4,899.
The BSE mid-cap and small-cap indices have out performed. The mid-cap index has jumped 1.6% while the small-cap index has gained 2.5% in noon trades.
Grasim has gained 2.6% at Rs 2,663. Reliance Infrastructure and Tata Steel have added 1.7% each to Rs 1,053 and Rs 579, respectively.
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Wipro and Sun Pharma have advanced 1.6% each. Sterlite has moved up 1.5% to Rs 764.
Jaiprakash Associates, DLF, ICICI Bank and Reliance Communication have also added over 1% each.
However Hindustan Unilever has continued to show weakness and is now down 2.6% at Rs 238. IT major, Infosys has dropped 2.5% to Rs 2,416.
SBI and Tata Power have declined around 1% each.
The market breadth continues to be positive. Out of 2,738 stcoks traded, 2,065 have advanced while 612 have declined.