The Bombay Stock Exchange benchmark Sensex was up by over 91 points at mid-session on Wednesday after its initial losses were wiped out by concerted buying in fundamentally strong stocks, with investors judging the fall of the bourses over the past few weeks overdone.
The Sensex, which opened 115 points lower, bounced back and rose by 91.15 points to 16,099.49 at 1330 hrs, led by refinery and information technology stocks.
In a similar fashion, the broad-based National Stock Exchange Nifty index rose by 25.35 points to 4,830.45 at 1.30 p.m.
Marketmen said the trading sentiment improved on a higher opening in Europe and fresh buying in stocks available at attractive lower levels following the recent fall.
They also said GDP growth of 6.9 per cent in the July-September quarter this fiscal was in line with the market expectations, which kept the investor sentiment intact.
