It was an extremely volatile session throughout the day. Markets ended flat after showing recovery from day's low. Selective buying and selling has seen across the board. It was witnessing some selling pressure in afternoon trade due to heavy sell off in European markets but again turned volatile as it looked like tussle between bulls and bears. Markets did not give major reaction to huge fall in US markets on Wednesday.

Nalco, SAIL, DLF, Power Grid, Tata Steel, Hindalco, HDFC, L&T and Reliance Infra were top contributors to both indices while
Reliance Ind, ITC, Infosys, Bharti Airtel, TCS and ICICI Bank draggers.

The Sensex has recovered 162.3 points and Nifty 51.8 points from day's low of 13,763.94 and 4110.40, respectively. Sensex finished the day with loss of 38.02 points or 0.27% at 13,926.24 while Nifty with a gain of 5.1 points or 0.12% at 4162.20.

Amongst frontliners, NALCO shot up 8.37%, Hindalco 5.49%, Power Grid Corp 5.03%,Zee Entertain 4.96%, ACC 3.12%, Tata Steel 2.70% and Ambuja Cements 2.46% while Hero Honda fell 3.67%, Maruti Suzuki -3.34%, ITC -2.18%, Reliance Ind -1.98%, Tata Motors -1.82% and ABB -2.64%. 

DLF was in positive terrain through the day, up 1.8% as the company has announced buyback of Rs 1,100 crore at maxium price of Rs 600 per share. It will buyback upto 2.2 crore shares, which is 1.1-1.29% of total equity. Promoters' stake will go up from 88.2% to 89.3% if buyback is completed.

Metal Index outperformed other indices, up 2.5% or 316.55 points at 12,959.17 due to buying in NALCO, Ispat Industries, Hind Zinc, Hindalco, Jai Corp, NMDC, SAIL, Tata Steel, Sterlite Ind, Guj NRE Coke, Sesa Goa and Jindal Steel.

However, Auto Index lost 1.12% or 40.35 points at 3,565.67 as selling seen in Maruti Suzuki, Hero Honda, Ashok Leyland, Tata Motors and Bosch.

IT Index also ended with a loss of 0.73% at 4,189.40 on back of weakness in Mphasis, Financial Tech, Infosys, TCS, Satyam and Wipro.

FMCG stocks like Marico, ITC, P&G, Ruchi Soya and Nestle have plunged. Index slipped 0.62% at 2,029.76.

Oil & Gas Index fell 0.59% at 9,079.59 due to selling in Reliance Ind, RNRL and Petronet LNG. However, BPCL, HPCL, Cairn India, Essar Oil, ONGC and IOC witnessed buying interest. Crude was trading at USD 136.25 per barrel on the NYMEX, at the time of writing market report.

Realty stocks like Indiabulls Real, Phoenix Mills, Ansal Properties, HDIL, Peninsula Land, Mahindra Life and Akruti City have tumbled. Index slid 0.51% at 4,876.02.

BSE Bankex lost 0.3% at 6,165.25. Power Index fell 0.29% at 2,448.78 and Capital Goods ended down by 0.22% at 11,340.05.

Jet Airways jumped up 2.6%, Spicejet 6.3% and Deccan Aviation up nearly 9% on account of news of mergers and acquisition in aviation space.

Allied Digital Services went up around 7% as company has bought 80.5% stake in US-based EnPointe Global for USD 30 million.

Market breadth was negative; about 1541 shares have advanced while 1365 shares declined. Nearly 239 shares remained unchanged.

Most active counters on the bourses were Reliance Ind, Reliance Infra, DLF, ICICI Bank and Reliance Capital.

Turnover traded by markets stood at Rs 51,884.57 crore. This includes Rs 11,412.88 crore from NSE Cash segment, Rs 35,645.89 crore from NSE F&O and Rs 4,825.8 crore from BSE Cash segment.

On the global front, Asian markets ended mixed. Shanghai Composite was down 1.54%, Jakarta Composite -0.43% and Straits Times -0.55% while Kospi gained 1.19%, Taiwan Weighted 0.39%, Nikkei 0.12% and Hang Seng 0.07%.

European markets were trading sharply lower on the back of heavy sell off in US markets as worries over financial space are not over yet. At the time of writing market report, FTSE 100 plunged 1.4%, CAC -1.7% and DAX -0.9%.

Asian markets were mixed. Nikkei was up 0.56%, Kospi 0.6%, Taiwan Weighted 1.13% and Hang Seng 0.4%. However, Shanghai was down 0.74%, Jakarta -1.62% and Straits Times -0.85%.