The BSE Sensex and Nifty pared most of their early losses in the noon trade as metal and capital goods stocks supported the benchmark indices. The Sensex recovered nearly 100 points from its day's low to 27, 493.37 and the Nifty rose nearly 30 points from its day's low to 8,278.80.
Metal stocks which underperformed the benchmark indices in 2014, witnessed some buying today. Sesa Sterlite was up 1.77 per cent to be the top gainer in Nifty followed by JSPL, which was up 1.5 per cent. NMDC also gained 1.1 per cent to be among the top gainers in Nifty. The BSE metals index was up around 0.8 per cent.
Capital goods stocks also witnessed buying today led by Bhel, which was up 1.2 per cent. The BSE Capital goods index was up 0.5 per cent.
IT and banking stocks which were down in the morning trade, saw some recovery providing support to the benchmark indices.
Maruti Suzuki gained over 0.5 per cent after the company reported better-than-estimated sale number for the month of December.
Coal India was the top loser in Nifty down 1.03 per cent followed by HDFC, which was down 0.9 per cent.
However broader indices were up today. The BSE midcap index was up 0.6 per cent, while the BSE smallcap index was up over 1 per cent.
DB Realty gained over 12 per cent after the Bombay High Court orders cleared hurdles relating to 3 of its major projects in Mumbai. The stock has gained over 30 per cent in last two trading sessions.
As of 12.09 p.m. Sensex traded 15 points lower at 27,484.28, while the Nifty was down 5 points at 8,278.