After opening with a loss of 94.17 points, at 8,103.75, the BSE Sensex bounced back in the positive zone with sharp buying seen across Banking and Capital Goods stocks.
The top gainers in the sectoral indices included BSE Bankex (2.27%), Capital Goods (1.18%) and IT (0.91%). On the other hand, FMCG (-2.02%), Health Care (-1.58%) and Auto (-0.89%) were top losers in the 30-share index.
Investors continued to offload midcaps and smallcaps from their portfolio. BSE Midcap and Smallcap were lower by 0.89% and 1.12% respectively.
Tokyo - Japan's benchmark Nikkei 225 Stock Average lost more than 3 per cent Friday after Wall Street plunged overnight and the yen advanced against the US dollar.
The Nikkei index dropped 228.54 points, or 3.07 per cent, to 7,204.95 after it gained nearly 2 per cent the previous day on hopes in China's expected economic stimulus measures.
The broader Topix index of all first section issues was also down 16.45 points, or 2.22 per cent, to 725.1.
New York - Major US stock indices fell sharply on Thursday as investors prepared for another dismal jobs report and China dampened speculation of a new stimulus package to boost its export- based economy.
Chinese Premier Wen Jiabao promised to maintain economic growth of about 8 per cent but did not offer additional funds beyond a 586- billion-dollar economic recovery package announced in November as he opened the annual National People's Congress (NPC).
The 30-Share Sensex continued its bearish trend with forceful selling action seen across FMCG and Banking stocks.
Indian equities started the day on a firm note on key rate cuts by the central bank, but failed to maintain the gains and reacted downwards in late morning trade on economic fears.
For the week ended Feb. 21, 2009, inflation fell further by 33 basis points to 3.03%, as against 3.36% during the last week.
Indian stock markets opened strong as the central bank slashed the repo and the reverse repo rate by 50 basis points to 5% and 3.5% on Wednesday.
The 30-share index, BSE Sensex belled the day above 8,500 mark at 8,535.03, up 88.54 points, as against its last closure in which it closed with a gain of 19.20 points (0.23%).
Among sectoral indices, the major gainers list included BSE Realty, Metal and Bankex.