Mumbai: Wiping off its early losses, the benchmark Sensex rose by nearly 83 points in afternoon trade on Thursday after the government unveiled its reforms plan in the financial sector and PSU disinvestment, coupled with measures to tackle the economic slowdown.
The 30-share index, which had lost 1.8% in opening session, rebounded with a gain of 82.43 points at 14,953.33 at 1:30pm.
The wide-based National Stock Exchange index Nifty rose by 26.91 points to 4,557.65.
Marketmen said trading sentiments turned bullish after President Pratibha Patil presented the agenda of the UPA government at the joint session of Parliament.
They said government data showing a fall in inflation and a firm start in European stock markets this afternoon also boosted the trading sentiments.
The President said the focus would be on adversely- affected sectors like infrastructure, exports, small and medium enterprises, and housing to restore the growth momentum.
While pursuing reforms, the pension and financial sectors and disinvestment in PSUs would be the priority areas for the UPA government, she said.