Thanks to some strong buying capital goods, metal, information technology, bank and realty stocks, the market moved higher past noon and remains well entrenched in positive territory now.
A few stocks from healthcare, power and oil sectors too have edged higher. However, shares from FMCG, consumer durables and automobile sectors remain somewhat subdued amid lackluster trades.
Bargain hunting after recent sharp losses and a recovery in Asian markets have contributed to the market's rally from lower levels this afternoon. The mood, however, remains quite cautious amid lingering worries about the economy.
Larsen & Toubro is up nearly 4.75% at Rs 1214 thanks to sustained buying at the counter on the back of buoyant quarterly results. Hero Motocorp, DLF, ICICI Bank, Jindal Steel, Sterlite Industries and Infosys are trading higher by 2% - 2.5%.
Hindalco, Tata Steel, Cipla and Sun Pharmaceuticals are up 1.5% - 2%, while State Bank of India, BHEL and Reliance Industries are trading higher by a little over 1%. Wipro, Tata Powr and HDFC are also trading notably higher.
Realty stocks DB Realty (5.7%), HDIL (2.3%) and Sobha Developers (1%), metal stocks Sesa Goa (4.8%) and JSW Steel (4.5%) and healthcare stocks Cadila Healthcare (3%), Glenmark Pharmaceuticals (2.3%), Divi's Laboratories (2.3%), Aurobindo Pharma (1.5%) and Ranbaxy Laboratories (1.4%) are up with impressive gains.