Sensex rebounds at midsession, Nifty crosses 3,700 level

After a weak start, the Bombay Stock Exchange benchmark Sensex recovered to gain nearly 96 points at midsession on Wednesday after funds resumed buying at attractive, low levels.

After a weak start, the Bombay Stock Exchange benchmark Sensex recovered to gain nearly 96 points at midsession on Wednesday after funds resumed buying at attractive, low levels.

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With the steep rise in heavyweight stocks, the National Stock Exchange index Nifty crossed 3,700 points after almost seven months.

The Sensex, which had commenced the day lower by 90.45 points, wiped off the losses to trade higher by 95.74 points at 12,226.82 at 1300 hrs, mainly on the back of the stocks of Reliance Industries, SBI, Larsen & Toubro, and Infosys.

Similarly, the wide-based Nifty rose 42.20 points at 3,704.10 at the same time. The index had opened 24.30 points lower.

Marketmen said funds and general investors picked fundamentally strong shares at lower levels.