The markets are trading higher on the back of buying interest in technology, pharma, oil, auto and metal stocks.
The Sensex is trading above 16500 mark while the Nifty is still below 4900.
Midcap and small cap indices gained 0.5 per cent. However, selling is seen in power stocks.
Market breadth is positive, with 669 shares having advanced while 351 shares declined.
At 10:28 am, the Sensex was up 100 points at 16,515 and the Nifty was up 17 points at 4,886.
Top gainers were Sun Pharma, Maruti, Satyam, Infosys and JP Associates while NTPC, HUL, HDFC Bank and Suzlon Energy losers.
Amongst technology space, Satyam, Infosys, Wipro, HCL Tech, TCS, Patni and Tech Mahindra. BSE IT Index was up 1.6 per cent.
Healthcare Index went up over one per cent due to buying in Sun Pharma, Panacea Bio, Apollo Hosp, Dishman Pharma, Glenmark and Cadila.
Maruti Suzuki surged three per cent as its May sales went up 16.2 per cent at 69,001 units versus 59,400 units (YoY).
Bajaj Auto climbed 5 per cent after good May sales numbers. Its sales were up 4 per cent at 2.01 lakh units from 1.93 lakh units YoY.
Hero Honda shot up over 2 per cent as the company reported a growth of 9.5 per cent in May sales of 3.12 lakh units versus 2.85 lakh units YoY.
Sun Pharma shot up over four per cent % on strong numbers for March quarter 2008. Net sales stood at Rs 1,257 crore and net profit of Rs 723 crore in Q4.
Tata Tea gained 1.7 per cent at Rs 877.60 on good numbers. The company reported consolidated net sales of Rs 1,176.80 crore for Q4 FY08 versus Rs 1,159.1 crore and net profit of Rs 113 crore versus Rs 52 crore.
Most active counters on the bourses were GSS America, Videocon Industries, Punj Lloyd, Infosys and Reliance.
However, power stocks have lost ground. NTPC, Suzlon Energy, CESC, Reliance Power and Power Grid were losers.
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