Sensex erases initial losses, gains 115 pts at midsession

The Sensex, which had dipped to day's low of 18,600.88, bounced back to trade higher by 114.65 poins, or 0.61 per cent, to 18,796.96 at 1300 hrs.

Similarly, the broad-based National Stock Exchange index Nifty rose by 31.65 points, or 0.55 per cent to 5,715.90, after touching a low of 5,658.05.

Trading sentiment turned better as investors picked up fundamentally strong stocks led by Tata Consultancy Services after the company posted attractive quarter earnings.

TCS climbed 3.17 per cent to Rs 1,331.25 as company reported net profit 49.2 per cent to Rs 3,434 crore in the September quarter.

Bajaj Auto rose 1.12 per cent to Rs 1,790.05 after it posted quarterly net income higher than market expectations at Rs 740 crore. Larsen and Toubro and Housing Development Finance Corp are among other companies to follow today, traders said.

They said a market received further support on a similar recovery trend in the Asian region.