Sensex rebounds on Libya news; TCS leads

Indian equity benchmarks showed a rebound in afternoon trade after the Libyan leader Gaddafi has accepted peace plan to end crisis in Libya. The Sensex has recovered more than 250 points from day's low to trade in green amid volatility at 12:45 hours.

Crude has cooled off post the news and could slip to USD 100 per barrel, said Jonathan Barratt managing director of Commodity Broking Services. NYMEX crude oil was trading at USD 101 a barrel, down USD 1 a barrel. Both Libyan leader Muammar Gaddafi and the president of the Arab League have agreed to a peace plan from Venezuela's President Hugo Chavez to end the crisis in the North African country, reports CNBC-TV18 quoting Reuters. Indian markets have reacted positively to the news. However, fairly sceptical of the peace plan, Jason Feer vice-president and Singapore bureau chief at Argus Media said, "We are yet to hear the government