The S&P BSE benchmark Sensex advanced by 72 points in the late morning trade on persistent buying mainly in Realty, IT, Power, Teck, Healthcare and Auto sectors on the back of firming trends in Asian markets coupled with capital inflows from foreign funds.
The Sensex resumed lower at 18,895.26 and dropped to a low of 18,864.81 due to selling pressure triggered by weak industrial production data for June 2013 released by the government after trading hours yesterday.
However, it recovered afterwards to 19,056.73 before quoting at 19,019.17 at 1030 hrs, showing a gain of 72.19 pts of 0.38 per cent
The NSE 50-share Nifty also moved up by 26.70 points or 0.48 per cent to 5,639.10 at 1030hrs.
Major gainers were M&M (3.28 pct), NTPC (3.15 pct), Wipro (2.66 pct), BHEL (2.38 pct), Hero Motocorp (1.94 pct), Sun Pharma (1.88 pct), Cipla (1.82 pct), Infosys (1.82 pct) and Bajaj Auto (1.47 pct).
Foreign institutional investors (FIIs) bought shares worth a net Rs 408.35 crore yesterday as per provisional data from the stock exchanges.
Asian markets were trading higher led by sharp upmove in Japanese shares which rose after yen eased following a report that said the Prime Minister Shinzo Abe is considering a corporate tax cut as a way to offset the impact of a planned two-stage increase in the sales tax. Key benchmark indices in Hong Kong, Indonesia, Singapore, South Korea, Japan and Taiwan were up by 0.28 pct to 1.65 pct while China's Shanghai Composite index fell 0.02 pct.