Mumbai: The markets seemed volatile, after trading higher for a short period of time.
Sensex down 100 at opening and Nifty was down 22 points on Friday morning. But the Sensex bounced back to green at about 9.56 am and Nifty held above 2900.
Buying continues in Reliance Industries, ONGC, NTPC, ITC, Bharti Airtel, Reliance Communications, Wipro, Idea, Suzlon Energy, HDFC and HUC.
However, ICICI Bank, DLF, Infosys, BHEL, L&T, SAIL, Maruti Suzuki, HDFC Bank, M&M, Tata Steel, Sterlite Industries, Tata Motors and Satyam continue to lag.
Meanwhile, Dow went through its worst ever two-day losses since 1987.
In New York, fear of a prolonged recession gripped traders. That made the US stocks tumble further for the second consecutive day Thursday, with the benchmark Dow Jones Industrial Average dropping by 443.48 points.
Meanwhile, in Tokyo, Japan's Nikkei 225 Stock Average extended losses in early trading Friday on prolonged economic concerns and the yen's strength against other currencies.
The benchmark index shed 423.18 points, or 4.76 per cent, to 8,475.96 in morning trading.
The Nikkei lost more than 6 per cent in Thursday trading.
On currency markets at 9 am, the dollar traded at 97.27-32 yen, down from Thursday's 5 pm quote of 97.90-93 yen.
The euro was quoted at $1.2690-95, down from Thursday's 5 pm quote of $1.2860-63, and at 123.42-52 yen, down from 125.92-96 yen.
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