Sensex rebounds, up 165 points in opening trade

The Bombay Stock Exchange benchmark Sensex recovered by over 179 points in early trade today on emergence of buying by foreign funds.

The 30—share index, which had lost over 467.27 points in the previous sessions, bounced back by 179.56 points to 16,588.05 points in the first five minutes of trading.

Likewise, the wide-based National Stock Exchange’s Nifty rose by 55.85 points to 4975.50 points.

Brokers said a steep fall in Wednesday’s trading pulled down shares to attractive levels that boosted trading sentiment.

Reliance industries rose by 0.82 per cent to Rs. 1006.45, ONGC by 7.44 per cent to Rs. 1105.00, Indian oil corporation by 2.69 per cent to Rs. 321.15 and GAIL India by 3.24 per cent to Rs. 446.10.