Mumbai, Aug. 14 -- Key benchmark indices pared sharp early losses on Friday as buying at lower levels helped limit the decline. The Nifty settled at 24,366 after recovering from the day's low of 24,296.80. The recovery was supported by positive global cues and a marginal strengthening of the rupee against the US dollar. A decline in India VIX also indicated easing near-term volatility and supported buying sentiment. Consumer durables stocks were in demand, while pharma, metal and cement stocks declined.

The S&P BSE Sensex shed 70.71 points or 0.09% to 78,009.25. The Nifty 50 index fell 29.85 points or 0.12% to 24,366.

Tata Motors Passenger Vehicles (down 4.32%), State Bank of India (down 1.41%) and Reliance Industries (down 0.53%) were ...