The markets have bounced back strongly on the back of fresh buying in auto and capital goods indices. At 11.10 am, the Sensex was trading 186.44 points higher at 19,448.98 and the Nifty gained 51.60 points to trade at 5,837.30.
The auto sector was the top gainer in morning trade, rising by 1.6 per cent. The capital good index followed with 1.3 per cent gain. Banking space also added 141 points to the markets. The metal index was the only loser at 11.10 am, trading marginally lower.
Jaiprakash Associate led the rally on the Sensex with more than 4 per cent gains. HUL, Maruti, ICICI Bank, L&T and Mahindra & Mahindra were among the top stocks that saw buying interest. On the losing side were Hindalco, Jindal Steel & Power, ONGC and Sterlite Industries.
Tata Chemicals was trading 2.26 per cent higher as the company invests $290 million for 25.1 per cent stake in Olam's Gabon urea project. GMR Infra gained 2.4 per cent as it completed divestment of its 50 per cent shareholding in InterGen NV.
Uflex also rose close to 1.66 per cent as the company plans to invest $180 million for new US facility. Modi Rubber jumped 10 per cent on reports that Continental AG is in talks with the company to buy 51 per cent stake. IVRCL wsa trading more than 4.5 per cent higher.
The mid- and small-cap indices were trading close to 1 per cent higher. On the BSE, 25 stocks advanced while only five were on losing side.
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