Markets continue to hold on to its gains in early noon trades on account of gains in Asian markets coupled with buying in frontline stocks like HDFC [ Get Quote ], ITC and Reliance Industries [ Get Quote ].
At 1350 hours, the Sensex was up 220 points at 19,633 and the Nifty added 68 points at 5,931.
Meanwhile, in the broader markets, the midcap index underperformed with a 0.3% gain as compared to the smallcap index and the BSE benchmark index which gained 0.5% each.
In Asia, shares rose on the back of gains in U.S. stocks on solid data and Chinese exports beating forecast underpinned investor risk sentiment while denting demand for safe-haven gold.
The MSCI's broadest index of Asia-Pacific shares outside Japan [ Images ] rose 0.5%, on track for a weekly gain of 0.8%.
Hong Kong shares surged 1.8% while Shanghai shares rose 0.3%. Japan's Nikkei stock average closed up 2.6% at its highest since September 2008.
Among the sectoral indices, Oil & Gas, FMCG and PSU indices advanced 1% each followed by Metal, Power, Capital Goods, Consumer Durables and Bankex indices which gained 0.6-0.7%.
On the other hand, IT and Auto index were the laggards, down 0.9% and 0.2% respectively.
The gainers among the Sensex-30 were Hero MotoCorp, Jindal Steel,HDFC and Gail India [ Get Quote ] up 2-3%.
The other gaainers included ITC, Coal India, Tata Steel [ Get Quote ], ONGC [ Get Quote ], HDFC Bank, L&T and NTPC, up 1% each.
On the losing side were auto majors like Maruti Suzuki [ Images ] down 1.6% on news that the company will suspend petrol car production at Gurgaon plant to cut inventory amid slowing sales.
Tata Motors [ Get Quote ] and Bajaj Auto [ Get Quote ] too slipped 1.4% and 0.3%.
Bank of America Merrill Lynch downgraded Bajaj Auto to "underperform" from "buy" each, citing share gains since mid-2012 and valuations it considered "not compelling." BofA Merrill also cut its price target on Bajaj Auto by 16% to Rs 1,925.
Technology shares fall on profit-taking with Infosys [ Get Quote ], TCS [ Get Quote ] and Wipro [ Get Quote ] losing 0.5-1%.
Dr Reddys Lab and Hindalco [ Get Quote ] down 1% each were the other major losers.
Among other stocks, public sector oil marketing companies, Bharat Petroleum was up 4%, Hindustan Petroleum was up 2.5% and Indian Oil Corporation [ Get Quote ] was up nearly 2%.
The market breadth was positive on the BSE. 1470 stocks advanced while 1091 stocks declined.