Sensex erases morning losses, up 189 pts on value buying

Mumbai, Jan 14 (PTI) BSE benchmark Sensex recovered itsmorning losses today when it shot up by 189 points atmidsession on emergence of buying as investors felt a longspell of selling was overdone.

The Bombay Stock Exchange benchmark Sensex, which haddeclined by 90 points or 0.9 per cent at the outset, recoveredby 189.32 points or 0.98 per cent to 19,772.11 points at 1230hrs.

The broad-based National Stock Exchange index Nifty roseby 59.50 points to 5,811.40 level on the back of a firmingtrend in IT, healthcare and tech sector stocks.

Market analysts said the investors were buyingfundamentally strong stocks available at the existing,attractive lower levels following a sharp fall in share pricesin the last few sessions.