A recovery in European stocks and US index futures aided strong intraday rebound on the domestic bourses. Banking, metal and mining stocks led the intraday rebound. The barometer index, the S&P BSE Sensex, was currently up 99.01 points or 0.38% at 26,396.39. The market breadth indicating the overall health of the market was negative. Meanwhile, falling crude oil prices augur well for India.

Metal and mining stocks edged higher after better-than-expected Chinese September trade data. IndusInd Bank surged after strong Q2 earnings. Cairn India bounced back after hitting 52-week low in intraday trade. TTK Prestige dropped after declaring weak Q2 results.

Industrial production growth remained subdued at 0.5% in August 2014, compared with a revised 0.4% growth in July 2014, data released by the government after trading hours on Friday, 10 October 2014, showed.

Earlier, amid weak cues from global markets, key indices had hit 8-week low in morning trade.

In overseas markets, European stocks staged a strong rebound after a weak opening as Federal Reserve policy makers said over the weekend at the International Monetary Fund's annual meetings in Washington that a global slowdown could undermine the US expansion and prompt them to delay raising US interest rates. Asian stocks were mostly in red even as stocks bounced back in Hong Kong. US index futures reversed initial losses.

Brent crude oil prices edged lower after Saudi Arabia and Kuwait signalled ample supplies and their willingness to bear lower prices to defend market share.

In the foreign exchange market, the rupee edged higher against the dollar on broad weakness of the dollar.

At 14:12 IST, the S&P BSE Sensex was up 99.01 points or 0.38% at 26,396.39. The index surged 102.26 points at the day's high of 26,399.64 in mid-afternoon trade. The index lost 204.69 points at the day's low of 26,092.69 in morning trade, its lowest level since 18 August 2014.

The CNX Nifty was up 25.50 points or 0.32% at 7,885.45. The index hit a high of 7,895.25 in intraday trade. The index hit a low of 7,796 in intraday trade, its lowest level since 18 August 2014.

The BSE Mid-Cap index was up 32.74 points or 0.35% at 9,477.15. The BSE Small-Cap index was up 33.65 points or 0.32% at 10,644.65. Both these indices underperformed the Sensex.

The market breadth indicating the overall health of the market was negative. On BSE, 1,459 shares declined and 1,351 shares gained. A total of 100 shares were unchanged.

Metal and mining stocks edged higher after better-than-expected Chinese September trade data. China is the world's largest consumer of steel, copper and aluminum. Jindal Steel & Power (up 3.59%), Hindustan Zinc (up 3.17%), Steel Authority of India (up 2.25%), Tata Steel (up 1.82%), Hindalco Industries (up 0.87%), NMDC (up 1.25%), and Sesa Sterlite (up 0.5%) gained.

IndusInd Bank rose 3.02% at Rs 642.15 after net profit surged 30.27% to Rs 430.20 crore on 20.6% growth in total income to Rs 2937.03 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

Cairn India rose 0.49% at Rs 286.40. The stock bounced back after hitting 52-week low of Rs 279.65 in intraday trade. The stock hit high of Rs 287.50 so far during the day.

Coromandel International lost 0.71% at Rs 291.85 after the company said that the Hudhud cyclone which crossed the coastal Andhra Pradesh yesterday, 12 October 2014, near Visakhapatnam has resulted in temporary stoppage of operations at the company's unit at Visakhapatnam. The cyclone has not caused any major damage to the company's manufacturing facilities, the company said. The power supply has been disrupted and is expected to be resumed in a day or two, the company said. Efforts are on to resume the production as soon as the normalcy is restored, Coromandel International said.

TTK Prestige lost 0.99% at Rs 3,955.10 after net profit declined 7.65% at Rs 27.98 crore on 10.02% growth in total income to Rs 383.06 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours.

DCB Bank rose 2.99% to Rs 84.35 after the bank said that its board at a meeting held on Friday, 10 October 2014, approved the issue and allotment of 3.04 crore shares to eligible qualified institutional buyers (QIBs). The bank's shares will be issued to QIBs at the issue price of Rs 82.15 per share, aggregating to Rs 250 crore.

Meanwhile, the provisional data released by the stock exchanges after trading hours on Friday, 10 October 2014, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 719.77 crore on that day.

Meanwhile, the stock market will remain closed on Wednesday, 15 October 2014, on account of assembly election in Maharashtra, BSE said in a circular.

In the foreign exchange market, the rupee edged higher against the dollar on broad weakness of the dollar. The partially convertible rupee was hovering at 61.175, compared with its close of 61.35 during the previous trading session.

Reserve Bank of India Governor Raghuram Rajan reportedly said at an event on Saturday, 11 October 2014, that the Indian rupee was not overvalued at this point in time and that the Indian economy was in the beginning phases of a recovery.

Brent crude oil prices edged lower after Saudi Arabia and Kuwait signalled ample supplies and their willingness to bear lower prices to defend market share. Brent for November settlement was off $2.02 a barrel at $88.19 a barrel. The contract briefly touched its lowest since December 2010 at $87.74 in early trade. The contract had risen 16 cents to settle at $90.21 a barrel on Friday, 10 October 2014. Brent for December settlement was off $2.03 a barrel at $88.55 a barrel.

Lower crude oil prices will help India in containing its fiscal deficit, current account deficit and fuel price inflation. India imports 80% of its crude oil requirement.

India's Index of industrial production (IIP) growth remained subdued at 0.5% in August 2014, from 0.4% (revised) increase in July 2014, data released by the government after trading hours on Friday, 10 October 2014, showed. The manufacturing sector's output declined for second straight month at 1.4%, mainly contributing to the subdued IIP growth in August 2014. However, mining sector output increased 2.6%, while electricity generation posted a double-digit growth for the third straight month, at 12.9%, in August 2014.

The annual rate of inflation based on the combined consumer price indices (CPI) for urban and rural India is seen further decelerating to 7.2% in September 2014, from 7.8% in August 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the CPI data for September 2014 at 17:30 IST today, 13 October 2014.

The annual rate of inflation based on the Wholesale Price Index (WPI) is seen further decelerating to 3.3% in September 2014, from 3.74% in August 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the WPI inflation data at 12 noon tomorrow, 14 October 2014.

In overseas markets, European stocks staged a strong rebound after a weak opening today, 13 October 2014, as Federal Reserve policy makers said over the weekend at the International Monetary Fund's annual meetings in Washington that a global slowdown could undermine the US expansion and prompt them to delay raising US interest rates. Key benchmark indices in France and Germany were up 0.08% to 0.2%. In UK, the FTSE 100 index was off 0.06%.

IMF meetings in Washington this weekend showed differing opinions over how much more stimulus the euro-area economy needs from the European Central Bank (ECB). While ECB President Mario Draghi repeated he's ready to expand the central bank's balance sheet by as much as 1 trillion euros ($1.3 trillion), Bundesbank head Jens Weidmann said a target value isn't set in stone.

Asian stocks dropped today, 13 October 2014, amid growing concern the global economy is slowing. Key benchmark indices in China, Singapore, Taiwan, Indonesia and South Korea were off 0.36% to 2.84%. Hong Kong's Hang Seng index rose 0.29%. Japanese markets were closed for holiday.

China's exports and imports rose faster than expected in September, data today, 13 October 2014, showed. Exports rose 15.3% in September from a year earlier, according to data from the General Administration of Customs. September's export growth exceeded August's 9.4% growth. Imports in September rose 7% from a year earlier, following a 2.4% decline in August. Increased imports saw China's trade surplus narrow in September to $31 billion from $49.8 billion in August. After the latest data, China's customs agency said it expects stronger exports and imports to continue in the fourth quarter.

In Hong Kong, police removed some barricades on the periphery of the main pro-democracy site in the city's business district, while hundreds of men attempted to remove more barriers.

Trading in US index futures indicated that the Dow could advance 13 points at the opening bell today, 13 October 2014.

US interest rate increases could be delayed by slowdowns elsewhere, Federal Reserve Vice Chairman Stanley Fischer said at the weekend, and Fed Governor Daniel Tarullo said he's worried about the world's economic expansion.

Meanwhile, a health-care worker in Dallas was confirmed at the weekend to have contracted Ebola after being in contact with an infected patient there, raising the possibility other caregivers could have been exposed to the disease