Benchmark indices opened the day higher, as Asian markets staged a rebound, after opening in the negative in early morning.
The rupee, which had weakened substantially in the last 2-weeks saw some buying support, with the currency opening at 67.27 to the USdollar. Check currency rates here
Leading the set of gainers in trade from the Nifty was ITC, which rallied a huge 6 per cent in trade, after the stock was upgraded by a number of brokerage firms.
Stocks that lost ground from the Nifty were Wipro, HDFC Bank and Hero Motor Corp.
Shares in Deccan Cement fell even after the company reported a 41 per cent rise in net profits. The stock was down 0.50 per cent in trade.
Finolex too saw a spectacular jump in trade after the company reported a solid rise in net profits. The stock was up 6 per cent in trade.
Meanwhile, markets across Asia were trading with gains, led by a strong rally in the Hang Sang and the Shanghai Composite.