The benchmark Sensex rose over 156 points in the morning trade on Monday, after two sessions of big sell-off, on emergence of buying by funds due to attractive share prices.
Firming trends in other Asian markets also impacted the trading sentiments in the local stock markets positively.
The BSE-30 share index recovered by 156.96 points quote higher at 15,025.21. The index had tanked nearly 438 points in the past two trading sessions in line with the global meltdown on US subprime mortgage worries.
The wide-based National Stock Exchange's Nifty was up by 41.45 points at 4,374.80.
Marketmen said markets rebounded on buying by funds in heavyweight stocks, which had gone down due to weak overseas trend. <b1>
Major support came in from stocks like Reliance Industries, Reliance Capital, Reliance Communications, ACC, Grasim Industries, Larsen and Toubro, ITC Ltd, ICICI Bank, HDFC Bank and State Bank of India.