After initial losses, sensex up by 115 points

Mumbai: Led by Reliance Industries and Infosys, the BSE benchmark Sensex erased its initial losses to rise 115 points above its previous close at noon today as investors lapped up fundamentally strong stocks available at attractive levels.

The 30-share Sensex, which has been under pressure for the last two trading sessions and declined by 0.8 per cent to touch a low of 17,337.65 in early trade today, recovered by 115.13 points to 17,595.96 at 12:00 hours.

The broad-based National Stock Exchange index Nifty rose by 35.50 points to 5,293.45 at the same time, after falling to a low of 5,204.95 in early trade.

The upsurge was mostly supported by the Reliance Industries and Infosys, which together account for 20 per cent of the combined weight of the 30 Sensex companies. RIL rose by 1.56 per cent to Rs 874 and Infosys by 0.26 per cent to Rs 2,844.55. The buying was mainly confined to refinery, healthcare and realty stocks.