The Sensex has bounced back into the positive terrain after a fall from higher levels on the back of strong buying action witnessed across key stocks including Reliance Industries, Tata Motors, ONGC, Ranbaxy Laboratories, NTPC, TCS, ACC and Infosys Technologies.

Some of the major gainers in the Sensex were Grasim Industries, State Bank of India, Wipro, Jaiprakash Associates, Tata Power, ICICI Bank, HDFC Bank, Hindustan Unilever and BHEL.

At 14:19 hrs, the BSE barometer gained 2.12 points at 9834.51, while the broad-based Nifty stood at 2990.50, up 9.30 points.

HCL Technologies was the prominent gainer on the bourses, which surged nearly 18% to Rs 122.50. Suzlon Energy, Ambuja Cements, Siemens, Hero Honda and Cipla zoomed by 2% - 4.5%.

The stocks, which also remained in the positive territory with smart gains, were Zee Entertainment, Punjab National Bank, Sun Pharmaceuticals, ABB, Reliance Power, Power Grid Corporation and Cairn India.

On the other hand, the selling pressure was seen across Sterlite Industries, Reliance Infrastructure, HDFC, DLF, Mahindra & Mahindra, Reliance Communications, Maruti Suzuki, Tata Communications, Idea Cellular, Larsen & Toubro, Tata Steel, Hindalco, Reliance Petroleum, Bharti Airtel and Unitech.

Midcap stocks Allied Digital and Geodesic remained locked at their respective upper limits at Rs 357.40 and Rs 86.55 respectively. Thomas Cook increased close to 20% at Rs 54.80.

The other major gainers in the midcap index were Everest Kanto Cylinder, Sterlite Technologies, PVP Ventures, Gujarat Minerals, Shiv Vani Oil, Simplex Infrastructure, BL Kashyap, Bajaj Hindustan, Gujarat Industries & Power, Titagarh Wagon, MIC Electronics, Monnet Ispat, Prakash Industries, Crisil, Amtek Auto and KEC International.