Indian markets bounced back on Thursday snapping earlier losses. At 9.27 a.m, the Sensex was trading up 126.03 points or 0.40% at 31,409.67 with 21 components gaining. Meanwhile, the Nifty was trading higher by 28.05 points or 0.29% at 9,661.65 with 38 components gaining.

Major gainers in the 30-share index were Reliance Industries (1.64%), Tata Motors (1.21%), Bharat Heavy Electricals (0.95%), Housing Development Finance Corporation (0.91%), Asian Paints (0.80%), and Axis Bank (0.73%).

On the other hand, GAIL (India) (1.14%), Hindustan Unilever (1.13%), Tata Power Company (0.86%), Oil & Natural Gas Corporation (0.82%), Wipro (0.55%), and HDFC Bank (0.17%) were the major losers in the Sensex.

Market breadth was positive with 964 advances against 323 declines.

D F M Foods topped the value chart on the BSE with a turnover of Rs. 347.48 million. It was followed by Spicejet (Rs. 215.95 million), Indiabulls Real Estate (Rs. 78.32 million) and Lupin (Rs. 50.35 million).

The volume chart was led by Jaiprakash Associates with trades of over 1.87 million shares. It was followed by Spicejet (1.59 million), Amtek Auto (1.54 million) and G M R Infrastructure (1.52 million).