Kotak Mahindra, Mah and Mah, Sun Pharma, HDFC, who among the top gainers, were at 5.33 percent, 4.38 percent, 3.29 percent, 3.25 percent up respectively.
Reliance Infra, Reliance Comm, Rel Capital, Jaiprakash Asso, who among the top losers, were 19.34 percent, 14.31 percent, 14.23 percent, 10.99 percent down respectively.
Markets volatile at afternoon trade
At 1:55 pm, the 30-share BSE Sensex was trading at 17,805, up 30 points and the 50-share NSE Nifty gained 12 points at 5,325.
BHEL, Tata Motors, Hindalco, Reliance Power and Sesa Goa - down 4 percent each. Jaiprakash Associates was the biggest loser with 7.5 percent fall.
Heavyweights like ONGC, ITC, SBI and NTPC too were under pressure.
Markets gain some power at noon trade
At 12:03 pm, the 30-share BSE Sensex was trading at 17,754, down 22 points and the 50-share NSE Nifty fell just 3 points to 5,309.
However, the broader indices were falling more as compared to benchmarks - the BSE Midcap Index was down 1.6 percent and smallcap down 1.9 percent.
Buying in oil & gas majors and private financial led the recovery today from day's low and helped the Nifty to hold 5300 level.
Sun Pharma was the leading stock on Nifty with 6 percent gain.
Nifty slips below 5300 level
NSE Nifty slipped below 5300-mark for the first time since Jul 9, 2010.
At 9:32 am, the 30-share BSE Sensex was trading at 17,688, down 87 points and the 50-share NSE Nifty fell 26 points to 5,286.
Reliance Communications, Bharti Airtel, DLF, Tata Motors, ACC, SAIL, Tata Steel, Axis Bank, Reliance Capital, ICICI Bank, Jaiprakash Associates, GAIL, Reliance Infrastructure and Reliance, who among the frontliners, were witnessing selling pressure.
However, Power Grid, M&M and ONGC were on buyers' radar.