Despite the weakness in Asian markets, Indian indices recovered from a dull opening to touch fresh 1-month highs. The Sensex went past 11200 before profit booking in large caps pulled the indices down.

Sensex opened at 11175 and saw a high of 11213. The index is trading higher by 24 points at 11169 at 11.10 AM.

Nifty opened at 3255 and touched a high of 3275. The index is trading higher by 5 points at 3260.

Select pharma stocks are attracting good interest. Glaxo is maintaining the up trend for the third session. The stock has added more than 3 per cent and is the best performer among index stocks. Sun Pharma has gained close to 2.5 per cent.

Among telecom stocks, Bharti has added more than 2.5 per cent and VSNL has gained more than a per cent.

Tata Tea is the best performer among FMCG stocks, trading nearly 2.5 per cent higher. HLL has gained nearly 1.5 per cent.

PNB is maintaining the up trend and has added another 2.5 per cent

Hindalco, HCL Tech, HDFC and Tata Power are the other major gainers.

ONGC is under pressure in early trades and has lost over a per cent. Reliance Industries has slipped close to 0.5 per cent. IPCL and Gail India are also trading lower.

Jet Airways has corrected after gaining in recent sessions. The stock is down nearly 1.5 per cent and is the worst performer among index stocks.

Tata Motors has lost close to a per cent while Bajaj Auto is down nearly 0.5 per cent.

BHEL is under pressure and has lost nearly a per cent.

Satyam Computer and HDFC Bank are the other losers.

Mid-caps and small stocks are in a completely different zone in early trades. Most of the prominent mid-caps are finding good interest, especially in sugar, tea plantations and construction sectors.

The NSE mid-cap index is now trading with gains of nearly 1.5 per cent. BSE mid-cap index has also added over 1.2 per cent and the small-cap index is trading with gains of more than 1.4 per cent. Market breadth on the NSE is very positive with more than three stocks advancing for every declining stock.

Tea stocks have bounced back very strongly. Harrison Malayalam, Jayshree Tea and Williamson Magor are locked in the 10 per cent upper circuits while McLeod Russel has added over 9 per cent.

Sugar stocks are doing well today as well. Uttam Sugar is the best performer, trading 11.5 per cent higher. Oudh Sugar has added close to 10 per cent while Rajshree Sugar and Shree Renuka have gained over 7 per cent each.

REI Agro, Bharat Gear, Quintegra, PBA Infrastructure, MSK Projects and Aegis Chemicals are among the major mid-cap gainers.

City Union Bank, Bharti Shipyard, Crompton Greaves, Calsoft and GMR Industries are the major mid-cap losers.