Indian markets bounced back on Wednesday snapping earlier losses. At 1.59 p.m, the Sensex was trading up 122.06 points or 0.43% at 28,345.76 with 20 components gaining. Meanwhile, the Nifty was trading higher by 35.15 points or 0.40% at 8,741.55 with 41 components gaining.

Biggest gainers in the 30-share index were State Bank Of India (2.49%), Bharat Heavy Electricals (2.34%), Tata Steel (2.26%), Tata Motors (2.22%), Adani Ports and Special Economic Zone (2.08%), and Axis Bank (1.65%).

On the other hand, Reliance Industries (1.66%), Hindustan Unilever (1.17%), Coal India (0.59%), Cipla (0.47%), Sun Pharmaceutical Industries (0.45%), and HDFC Bank (0.37%) were the major losers in the Sensex.

Market breadth was positive with 1,574 advances against 846 declines.

Federal Bank topped the value chart on the BSE with a turnover of Rs. 656.61 million. It was followed by State Bank Of India (Rs. 515.79 million), Delta Corp (Rs. 385.57 million) and Tata Motors (Rs. 353.22 million).

The volume chart was led by Allied Computers International (Asia) with trades of over 34.13 million shares. It was followed by Federal Bank (8.67 million), IDFC Bank (4.34 million) and Suzlon Energy (4.32 million).