Indian stock market, which begun the day negatively after declining 17.62 points at 16,335.78, remained subdued during noon trade but equity indices managed to break off the lows of the day.

Some buying was seen across capital goods and oil & gas counters, while banks and consumer durable stocks topped the declining charts.

At 1:50 p. m., the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) stood at 16,226.43, down 126.97 points or 0.78%. The index hit an intra-day high of 16,411.14 and an intra-day low of 16144.17

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) also traced a similar path and was ruling at 4,812 points, down 34.25 points from its last close after touching an intra-day high of 16,411.14 and an intra-day low of 16144.17.

Stocks in the midcap and smallcap space traded with minor losses as well. BSE Midcap Index surged 0.17% and BSE Smallcap Index was down by 0.43%.

Amongst the sectoral indices, BSE Oil&gas Index surged 0.36% and BSE Capital Goods Index gained 0.51% higher. In contrast, BSE Bankex fell 2.06%, BSE Consumer Durables Index dropped 1.09% and BSE Metal Index declined 0.88%.

The market breadth was negative, with 967 stocks advancements and 1585 declinations

Among the gainers this time on the Sensex were Bharti Airtel, Wipro, Tata Motors, L&T and RIL.

Among the losers were Maruti Suzuki, ICICI Bank, RCom and HDFC Bank.