Sensex Up 100 Points, Nifty Regains 7,700

The Sensex rebounded sharply after witnessing selling pressure for most of the first half.

As of 2.05 p.m. the Sensex traded 101 points higher at 25,766 while Nifty was up 34 points, regaining the 7,700 mark.

The IT sub-index which fell over 1.5 per cent earlier recovered and was trading 0.76 per cent lower. HCL Tech was down 1.68 per cent at Rs 1,521.65 while Infosys and TCS were down nearly 1 per cent each.

Oil & gas and metal stocks mainly led the recovery in Sensex and Nifty. Jindal Steel & Power gained 6 per cent to Rs 290.90 on the back of higher than estimates earnings while Tata Steel was up nearly 2 per cent to Rs 561. BPCL and ONGC were up between 1.5 per cent to 2 per cent each.

35 out of the 50 stocks in Nifty gained while 15 shares fell.