Asian trend was seen trading low after Moody's decision to downgrade six European nations. Moody also warned UK and France striping its top rating.
At 3.40 pm IST, the 30-share BSE Sensex was trading at 17848.57 up by 75.73 or 0.43% and NSE Nifty was trading at 5417.95 up by 27.75 or 0.51%.
Among sectoral indices on BSE, the sectors were trading in positive terrain except Health Care and Oil & Gas which were in red.
Capital Goods, Realty, Auto, Bankex and Consumer Durables were leading the rally.
On the National Stock Exchange (NSE), the top volume gainers were Reliance communications, Tata Motors, L & T, Hero Moto Cop and State Bank of India posted gains between 3.48%-5.69%.
And the loser in today trade were Cipla, Tata Power, Siemens, ONGC and Bharti Airtel.