The Sensex was showing volatility owing to lack of support at upper levels.

Buying and selling was being seen across select frontline stocks. Secondline stocks also remained up.

Consumer durables, metal, auto and realty led, while banking and FMCG dropped.

The BSE Midcap and Smallcap index gained 5.28% and 6.81% respectively.

A dealer from local brokerage firm said that as the majority of frontline stocks look overstretched, investors have shifted their focus on tier II stocks that are available at good prices.

Today, the Indian stock market started the day negatively after a loss of 71.30 points, at 14,230.73.

At 12:00 p. m., Sensex gained 3.34 points at 14,305.37 after hitting a high of 14,405.51 and a low of 14,082.27.

In the meantime, the broad based Nifty was up by 20.65 points at 4,339.10 after touching a high of 4,362.85 and a low of 4,253.30.

"The market has next major support in the range of 4260/4250 and sustenance below the same may drag down trading momentum and market may even fall to 4150/4130
(13850/13700)," said Kotak Securities report.

The top gainers in the 30-share index included Tata Motors, which gained 13.52%, Tata Steel surged 11.47%, Hindalco Industries increased 7.22%, Mahindra & Mahindra zoomed 5.71%, JP Associates soared 5.35% and Reliance Energy was up by 4.95%.

On the other hand, the major losers in the Sensex included Sun Pharmaceutical Industries, which fell 5.73%, DLF lost 5.26%, BHEL dropped 5.03%, ICICI Bank declined
4.64%, RCom slumped 3.83%, and Reliance Capital fell 3.75%.

Tata Motors Ltd raised Rs 12.5 billion through selling non-convertible debentures (NCDs) to LIC. With a maturity of seven years, the NCDs carry a coupon of 10%.

The debt is part of a larger fund-raising programme to refinance the US$3 billion bridge loan taken at the time of buying Jaguar and Land Rover (JLR).