Sensex rebound at noon on selective buying

The BSE barometer, which had lost over 150 points at the outset, was trading higher by 49 points at 8,246.92 at 1200 hrs with most of the banking and capital goods shares posting smart gains.

The benchmark Sensex recovered by 49 points after a weak opening on emergence of buying by funds in fundamentally strong stocks.

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The Bombay Stock Exchange barometer, which had lost over 150 points at the outset, was trading higher by 49 points at 8,246.92 at 1200 hrs with most of the banking and capital goods shares posting smart gains.

Meanwhile, wide-based National Stock Exchange’s index, Nifty, rose by 15.10 points to 2,591.80. It had dipped to 2,539.45 points in the opening session.

Marketmen said the market turned positive as investors purchased fundamentally strong shares available at attractive low levels.

They said heavy selling in last two trading sessions pulled down the market to a 40-month low level.