The market recovered partially and appeared stable after sell-offs in initial trade. The 30-share BSESensex was trading at 16,226, down 134 points after seeing recovery of more than 100 points from early day's low. Meanwhile, the 50-share NSE Nifty fell 42 points to 4,881.
Technology (post fall in rupee to 49.74 per dollar), FMCG (defensive counters), PSU oil & gas and select power companies' shares were on buyers' radar.
However, financial, telecom, metal, capital goods and auto stocks were still under selling pressure, which weighed on the market.
Tata Motors, Sterlite Industries, HDFC Bank, Maruti Suzuki, Tata Steel, Cairn India, Axis Bank and SAIL were top losers among largecaps - these stocks plunged 3-4%.
However, TCS, Tata Power, Wipro, Infosys, NTPC and HCL Tech gained 1-2%. ONGC, ITC and HUL were other gainers; rose 0.6-0.9%.
The broader indices underperformed the benchmarks - the BSE Midcap Index was down 1.3% and Smallcap down 1.6%. About three shares fell for every share gaining on BSE.
Among midcaps, KGN Industries, Sunteck Realty, Trent, Patni Computer and Redington gained 1-5%.
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