Sensex erases morning losses, up 189 pts on value buying

Investors outside the BSE in Mumbai. File Photo

BSE benchmark Sensex recovered its morning losses today when it shot up by 189 points at midsession on emergence of buying as investors felt a long spell of selling was overdone.

The Bombay Stock Exchange benchmark Sensex, which had declined by 90 points or 0.9 per cent at the outset, recovered by 189.32 points or 0.98 per cent to 19,772.11 points at 1230 hrs.

The broad—based National Stock Exchange index Nifty rose by 59.50 points to 5,811.40 level on the back of a firming trend in IT, healthcare and tech sector stocks.

Market analysts said the investors were buying fundamentally strong stocks available at the existing, attractive lower levels following a sharp fall in share prices in the last few sessions.