Mumbai: Major indices turned green in the final hour of trade on Wednesday as the Sensex settled 235 points up from its previous close, after earlier falling close to 700 points lower.
The strong recovery was led by the financial sectors that ended with 0.80 per cent gains on the BSE while on the NSE, only the export-oriented Nifty IT and pharma index ended lower.
After 3.35 p.m., the S&P BSE Sensex settled 234.51 points or 0.66 per cent higher at 35,704.66 after touching an intra-day high of 35,711.26 and a low of 35,010.82.
The NSE’s Nifty50 gained 66.35 points or 0.62 per cent to finish at 10,729.85.
The benchmark Brent Crude prices rose to $50.93 a barrel while the domestic currency stood at 70.02 per US dollar from its previous close of 70.14.
“The oil market is facing a lot of uncertainty and one possibility is that OPEC may go for a further production cut if prices decline,” Anuj Gupta, Deputy Vice President – Research, Commodities and Forex, Angel Broking, told IANS.
[source_without_link]IANS[/source_without_link]