The markets have recouped early losses and now rebounded into the positive terrian on the back of strength in metal space. The Sensex from a low of 18,352, has recovered significantly and is now up 43 points at 18,493.
The NSE Nifty has advanced 18 points to 5545.
Bajaj Auto, Tata Motors, Reliance Communications and Tata Steel have gained around 2% each in morning trades.
Jaiprakash Associates, Hindalco, Maruti and Jindal Steel are the other prominent gainers.
On the other hand, Bharti Airtel, Cipla and Larsen & Toubro are the notable losers.
Among the other metal stocks - Bhushan Steel and Welcorp have rallied over 3% each. Jindal Saw, Jindal Steel and Sesa Goa are also up around 1% each.
The market breadth is fairly positive - out of 2,404 stocks traded so far, 1,581 have advanced and 761 have declined on the BSE.