After opening weak, the benchmark index Bombay Stock Exchange Sensex rebound to quote over 110 points higher in early trade on Thursday on funds buying, triggered by firming global markets.
However, technology stocks remained under pressure despite impressive third quarter earnings posted by IT bellwether Infosys Technologies
The 30-share index, which lost over 59 points at the outset, recovered by 112.00 points at 13,474.76 in the first 10 minutes of trading on the back of a strong rally in Larsen and Toubro, BHEL, Reliance Industries and ITC Ltd stocks.
Similarly, the Nifty index on the broad-based National Stock Exchange was up by 33.30 points at 3,883.60.
Marketmen observers said better than expected third quarter results announced by Infosys Technologies failed to make any immediate impact.
However, sugar stocks were in good demand on expectations that the government might completely lift ban on the export of the sweetener.