Mumbai, Sep 29 (IANS): Led by gains in auto, IT and FMCG stocks, a benchmark index for Indian equities Thursday rose in afternoon trade after having languished in the red in the morning session.

The 30-scrip sensitive index (Sensex) of the BSE Thursday opened at 16,387.91 points, and was ruling at 16,585.44 points, up 139.42 points or 0.85 percent from its previous close at 16,446.02 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading higher, 0.64 percent up at 4,977.65 points.

Broader markets also saw some gains with the BSE 100 index ruling 0.68 percent higher. However, the BSE midcap index was down 0.43 percent and the BSE small cap index was ruling 0.32 percent lower.

The market breadth at the BSE was negative with 1,504 stocks on the decline, compared to 1,101 advancing and 113 remaining unchanged.

Some of the top gainers on the Sensex at this time were HDFC Bank, M&M, ONGC and Maruti Suzuki, while losers included L&T, SBI, Coal India and DLF.

Global markets were ruling mixed amid anticipation that European leaders would come out with concrete steps to contain the Euro zone debt crisis.

Among Asian bourses, the Japanese Nikkei closed almost a percent higher at 8,701.23 points, while the Chinese Shanghai Composite index ended 1.12 percent down at 2,365.34 points.

Hong Kong's market were closed on account of a holiday.

European markets were mixed even as the Finnish parliament voted in favour of expanding a bailout fund to be used to rescue countries hit by the debt crisis. Germany too will put such a measure to vote Thursday.

While Britain's FTSE was ruling 0.31 percent down at 5,201.68 points, the German DAX was trading 0.36 percent higher at 5,598.71 points.

The French CAC 40 was ruling 0.62 percent higher at 3,014.17 points.