Regaining lost grounds, the S&P BSE Sensex recovered by 72 points in the late morning trade due to fresh buying mainly in IT, Teck, Banking and Capital Goods counters on persistent capital inflows from foreign funds.
The Sensex resumed slightly higher at 20,534.61, but dropped to 20,497.88 on mild profit booking mainly in metal and power counters.
However, it recovered afterwards to 20,645.94 before quoting at 20,600.13 at 10.30 a.m., showing a gain of 71.44 points or 0.35 per cent from its last weekend’s level.
The NSE 50-share Nifty also moved up by 13.50 points or 0.22 per cent to 6,111.95 at 10.30 a.m.
Major gainers were Wipro (3.50 per cent), TCS (1.78 per cent), Dr Reddy (1.59 per cent), Coal India (1.38 per cent) and Infosys (1.19 per cent).
However, Hindalco Ind fell by 3.33 per cent, Tata Steel 1.58 per cent, BHEL 1.43 per cent and Jindal Steel 1.10 per cent.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1010.45 crores on last Friday as per provisional data from the stock exchanges.
Asian stocks fell in their early trade as US lawmakers struggled over an accord to raise the nation’s debt limit and restore government operations.
Key benchmark indices in Singapore, South Korea, and Taiwan fell between 0.03 per cent to 0.7 per cent. China’s Shanghai Composite rose 0.46 per cent. Stock markets in Japan, Indonesia and Hong Kong were closed for holidays.