Brent crude oil prices tested Dollars 35 a barrel in European trade on Thursday.
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US Federal Reserve hinting at softer stance in its January policy meet also had its bearing.
Consequently, the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed the day’s trade up 267 points or 1.14 percent.
“Short-covering, value-buying and positive global indices restored investors’ risk taking appetite and rose the markets higher”, Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS.
But it staged a strong comeback in the last one hour and closed higher by 189.90 points or 0.82 per cent at 23,381.87.
Major Sensex gainers during Thursday’s trade were Dr.Reddy’s Lab, up 4.52 percent at Rs.3,094.95; ONGC, up 4.50 percent at Rs.208.85; Hero MotoCorp, up 3.85 percent at Rs.2,620.95; ICICI Bank, up 2.83 percent at Rs.196.10; and Lupin, up 2.68 percent at Rs.1,777.15.
Monsanto remained under pressure and slipped 3 percent as CCI said is it probing the company whether it abused dominant position as a supplier of genetically modified cotton seeds.
Elsewhere, key indices in Asia, like Hong Kong, Japan, Singapore were down, while Shanghai Composite Index ended 1.08 per cent higher.
The broader NSE Nifty recaptured the 7,100-mark and finally settled at 7,108.45 up 60.20 points or 0.85 per cent.
However, Maruti Suzuki fell by 2.53 percent followed by Asian Paints 2.09 percent, BHEL (1.84 percent), Axis Bank (1.39 percent), RIL (1.19 percent) and Adani Ports (1.11 percent).
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Among BSE sectoral indices, healthcare rose by 1.57 per cent, followed by energy 1.41 per cent, oil&gas (1.40 pc), industrials (1.28 pc), auto (1.03 pc), capital goods (0.97 pc), IT (0.88 pc) and tech (0.87 pc) while consumer durables fell 2.34 per cent, followed by bankex 0.23 per cent and finance 0.07 per cent. The total turnover rose to Rs 3,535.11 crore from Rs 2,352.52 crore on Wednesday.
