The Bombay Stock Exchange bellwether Sensex today sank, surfaced and shot up to close the day higher by 236 points, as investors picked up stocks at attractive levels amid firm opening in European bourses.
The 30-share Sensex, which lost 265 points in the last two trading sessions, bounced back to close with a gain of 236.20 points at 17,021.85. The key index touched the day’s low of 16,635.75 and a high of 17,041.79 points.
The wide-based National Stock Exchange index Nifty rose 63.45 points to 5,052.45, after moving between 5,063.30 and 4,932.80.
Marketmen said the recovery in the market was purely on brokers clearing their pending long positions created in last two bearish sessions. Higher opening in European markets also boosted market sentiment, they said.
The upsurge was led by the most heaviest on the Sensex, Reliance Industries, which gained 2.07 per cent to close at Rs 2,125.15 and the second most heaviest Infosys, which rose by 0.75 per cent to end at Rs 2,427.50. Both the stocks carry nearly 23 per cent weightage on the index.
A smart rise in stocks of banking, refinery, metal and healthcare sectors mainly supported the market.
In the 30-BSE index-linked stocks, 26 closed with gains while four ended in the negative zone.