Indian markets bounced back on Friday snapping earlier losses. At 9.34 a.m, the Sensex was trading up 265.97 points or 0.71% at 37,929.53 with 25 components gaining. Meanwhile, the Nifty was trading higher by 60.05 points or 0.53% at 11,445.10 with 44 components gaining.

Major gainers in the 30-share index were ITC (2.44%), Adani Ports and Special Economic Zone (1.85%), Tata Steel (1.68%), Tata Motors (1.45%), and Axis Bank (0.96%).

On the other hand, Bharti Airtel (0.81%), Wipro (0.46%), and Bajaj Auto (0.06%) were the major losers in the Sensex.

Market breadth was positive with 1,050 advances against 274 declines.

Dr Reddy'S Laboratories topped the value chart on the BSE with a turnover of Rs. 133.83 million. It was followed by Sun Pharmaceutical Industries (Rs. 83.00 million), Adani Enterprises (Rs. 62.74 million) and Housing Development and Infrastructure (Rs. 57.31 million).

The volume chart was led by Reliance Communications with trades of over 2.49 million shares. It was followed by Housing Development and Infrastructure (1.73 million), Hindustan Organic Chemicals (0.86 million) and Vakrangee (0.80 million).