Shrugging off early losses, the Bombay Stock Exchange benchmark Sensex gained 58 points at noon on Thursday on revival of buying, backed by reports of an easing inflation.
The Sensex, which lost nearly 435 points in previous day's trading and commenced the day lower by 187 points, rebounded to trade higher by 57.84 points at 14,580.68.
Similarly, the wide-based National Stock Exchange index Nifty rose by 19.15 points to 4,375.30.
Marketmen said buying activity picked up soon after announcement came that inflation touched minus 1.61 per cent for the week ended June 6, as wholesale prices shrunk for the first time in 30 years.
India possibly stood as the only country now recording deflation, though the European region is nearing the zero rate of inflation on account of recession.