The Sensex has ended (prosional) at 16,946 - up 80 points.
The Nifty ended provisionally at 5,025 - up 22 points.
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(Updated at 1511 hrs)
The markets have not only covered all their losses, but are now trading well in positive territory.
The Sensex is quoting at 16,970, higher by 104 points and the Nifty is at 5,029, up by 26 points.
Hindalco, Hindustan Unilever and ITC are among the major market gainers.
Hindalco has advanced 5.8% at Rs 125, Hindustan Unilever has gone up by 5.2% to Rs 280 and ITC has risen 3.5% to Rs 246 on the BSE.
On the other hand, Reliance Communications, Bharti, Idea and ACC continue to languish in the red.
The market breadth continues to be weak though. Out of 2,759 shares traded on the BSE, 1,735 shares have declined and 957 have advanced so far.
