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Markets recoup, Sensex up 225 points

MUMBAI: The markets shrugged off the impact of fuel price hike, with the benchmark Sensex gaining nearly 255 points on Thursday to snap the three-day long losing spree on the back of strong European trends.

The 30-share Bombay Stock Exchange barometer ended the day at 15769.72, a gain of 254.93 points, over Wednesday’s close.

The key index moved between 15814.80 and 15314.02 points, revealing a wide gap of 500 points which reflected the high volatility in trade today. At the lowest level, it was down by nearly 201 points before recovering smartly on good buying at lower levels.

The Sensex had lost over 900 points in past three trading sessions. It lost over 440 points on Wednesday alone on fears of further inflationary pressure after the government announced a hike in fuel prices.

The 50-share Nifty of the National Stock Exchange also recovered by 91.35 points to 4676.95 from its previous close.

IT counters attracted heavy buying interest due to fall in the rupee value. — PTI

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