The market rebounded with marginal gains on Thursday. The Sensex rose 62.50 points to 29443.23 and the Nifty advanced 6.75 points to 8929.40.
About 365 shares have advanced, 140 shares declined, and 97 shares are unchanged on the BSE.
M&M, Sun Pharma, ITC, Cipla, Bajaj Auto, BHEL, Tata Motors and L&T are prominent gainers in early trade while ICICI Bank, NTPC, GAIL, Infosys, HUL and Jindal Steel are under pressure.
Reliance Infrastructure gained 2 percent and Pipavav Defence tanked 10 percent. Reliance Infrastructure has acquired 18 percent promoter's stake in Pipavav Defence for Rs 819 crore at Rs 63 apiece. Reliance Infra will make open offer for 26 percent stake in Pipavav at Rs 66/share.
The Indian rupee has opened lower, down 7 paise to 62.32 a dollar compared to 62.25 a dollar in previous session.