The domestic benchmark bounced back in morning trade amid bouts of volatility. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 142.38 points or 0.40% at 35,986.08. The Nifty 50 index added 50.70 points or 0.48% at 10,602.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.62% while the S&P BSE Small-Cap index gained 0.51%.

The market breadth was positive. On the BSE, 1203 shares rose and 932 shares fell. A total of 141 shares were unchanged.

Buzzing Index:

The Nifty Metal index slipped 0.81% to 2,000.60. The index has risen 1.38% in past three sessions.

Among the index constituents, MOIL (down 2.9%), Hindalco Industries (down 1.73%), Welspun Corp (down 1.17%), Vedanta (down 1.13%), Tata Steel (down 1.02%), JSW Steel (down 0.85%), Ratnamani Metals Tubes (down 0.82%) and Hindustan Zinc (down 0.31%) declined.

Hindustan Copper (up 2.29%), APL Apollo Tubes (up 0.99%), SAIL (up 0.96%), National Aluminum Co. (up 0.31%), Jindal Steel & Power (up 0.26%) and NMDC (up 0.06%) advanced.

Stocks in Spotlight:

JB Chemicals & Pharmaceuticals shed 0.10% to Rs 714.70. US private equity giant KKR on 2 July 2020 agreed to acquire about 54% stake in the Mumbai-based drug manufacturer for Rs 3,109 crore. The deal triggered an open offer for an additional 26% stake in JB Chemicals. KKR launched an open offer to acquire an additional 26% stake or 2 crore full paid-up equity shares of the drug maker. The open offer will also be made at a price of Rs 745 per share. If successful the open offer will add another Rs 1,496 crore to the deal, taking the total value of the deal to Rs 4,605 crore.

Axis Bank added 0.40% to Rs 425.25. The bank announced yesterday that it has decided to wind down its UK-based subsidiary, Axis Bank UK. This move will not have any material impact on its financial position, it said.

VST Tillers Tractors gained 0.81% to Rs 1395.10. The company's tractors sales rose 10.58% to 805 units while the total power tillers units sold fell 19.55% to 2,675 units in June 2020 over June 2019.