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Indian equities made a marginal recovery on Thursday with a key index moving 0.74 per cent up after choppy trading.

The Sensitive Index (Sensex), the 30-share benchmark index of the Bombay Stock Exchange, gained 95.32 points to close at 12,979.66. Similarly, the 50-issue broader National Stock Exchange index, Nifty, was up 37 points or 0.98 per cent to close at 3,798.10.

Banking shares led losses in early trading amid worries of disappointing earnings after a series of recent monetary policies.

Second largest private lender HDFC Bank fell 2.34 per cent at Rs 933.05 while top private lender ICICI Bank fell 0.23 per cent at Rs 855.60.

Index heavyweight and second largest software exporter Infosys Technologies, leading aluminium maker Hindalco, cement producer Grasim Industries, top multi-utility vehicle makers Tata Motors and state-owned heavy engineering firm BHEL were the other index shares that traded in the red.

Leading the major index gainers were top software exporter TCS, up 3.83 per cent at Rs 1,247.00, followed by top two-wheeler maker Hero Honda Motors, up 3.62 per cent at Rs 679.70 and leading consumer goods producer Hindustan Lever, up 3.41 per cent at Rs 204.55.

Top engineering and construction firm Larsen & Toubro, cigarette maker ITC, top cement producer Gujarat Ambuja Cements, pharma majors Ranbaxy Laboratories and Dr Reddy's Laboratories and top state-owned carmaker Maruti Udyog were the other major index components that traded in the green.