Better than expected IIP data helped equities recover smartly from days lows. The benchmarks were trading flat, erasing early losses.

Bombay Stock Exchanges Sensex was at 15,140.74, up 45 points or 0.29 per cent. The index gained around 400 points from days low of 14,747.99.

National Stock Exchanges Nifty was at 4,518, down 0.11 per cent or 4.85 points. It touched a high of 4530.90 and low of 4392.

Sensex gainers were BHEL (up 4.99%), Reliance Infrastructure (1.59%), Bharti Airtel (0.88%), ITC (0.83%) and Tata Motors (0.75%).

DLF (down 3.34%), Ranbaxy Laboratories (3%), Ambuja Cement (2.83%) and HDFC Bank (2.41%) were the index losers.

BSE Midcap Index was flat at 6,189.23 and BSE Smallcap Index was up 0.32 per cent at 7,491.25.

Market breadth was slightly negative with 1,278 declines and 1,242 advances.

The index of industrial production rose 7 per cent in April from a year earlier, rebounding strongly from the previous month's provisional 3 per cent growth, data showed.

Manufacturing production rose 7.5 per cent in April from a year earlier, compared with a provisional 2.9 per cent in March.