After a sharp retreat from the day's high, the market has edged up smartly and looks headed for a fairly strong close today. Still, the mood is somewhat cautious amid lingering concerns about the global economy.
The downward revision in India's growth forecast by the International Monetary Fund is also weighing on sentiment to an extent.
Healthcare stocks, which suffered a few setbacks last week, are back in demand. FMCG stocks too have bounced back into the reckoning after recent losses. Select consumer durables, information technology, capital goods and bank stocks are trading higher.
The Sensex is up 80 points or 0.43% at 18,788.98. At 5703.60, the Nifty is up 27.60 points or 0.5% from its previous closing mark.
Metal stocks are of their highs. Realty stocks are mostly trading flat. Power, automobile and oil stocks are quite subdued.
Infosys, the top gainer in the Sensex, is up 2.3% at Rs 2555. The IT bellwether will announce its quarterly results and earnings guidance on Friday this week.
Sun Pharmaceutical Industries, Ultratech Cement and Ranbaxy Laboratories are also trading higher by over 2%. Lupin, Kotak Bank, Hindustan Unilever, Cipla and Power Grid Corporation are also trading notably higher.
GAIL India, Hindalco, Bharti Airtel, BHEL, Tata Motors and NTPC are down 1% - 2.2%. Reliance Industries, Bajaj Auto, Punjab National Bank and Siemens are also trading weak.