Domestic equity benchmark BSE Sensex rallied over 300 pointsin early trade on Thursday tracking gains in HDFC twins and Infosys ahead ofJuly derivatives expiry, amid positive global cues.

The 30-share index was trading 309.16 points or 0.82 percent higher at 38,156.81 at 0945 hours; and the broader Nifty also surged 81.15points or 0.72 per cent to 11,352.45.

In the previous session, the 30-share index tumbled 135.09points or 0.36 per cent to close at an over two-month low of 37,847.65.Similarly, the Nifty dropped 59.75 points or 0.53 per cent to 11,271.30.

In early trade, IndusInd Bank, HDFC Bank, Sun Pharma,Vedanta, HDFC, Axis Bank, Infosys and Maruti led the gains on Sensex, rising upto 2.35 per cent. On the other hand, Tata Motors, Kotak Bank, Yes Bank, AsianPaints, ONGC and M&M fell up to 2.28 per cent.