New Delhi: Coming back strongly from the initial slide, the markets closed on an impressive note outperforming most of its Asian peers.
After opening with a gap down of around 170 points, the benchmark Sensex showed smart recovery and ended the day with good gains.
The Sensex ended with a gain of over 120 points on the back of late buying by funds in IT and capital goods sector stocks.
The 30-share index, Sensex, closes the session with a gain of 120.34 points, or 0.85 per cent higher at 14,338.45.
It touched the day's low of 14,046.06 and a high of 14,364.95.
The second wide-based National Stock Exchange index Nifty gained 43.25 points at 4,248.15 after moving between 4,141.35 and 4,256.40 points.
Stockbrokers said broad-based buying interest re-emerged after Inflation fell for the fourth consecutive week to 5.27 per cent during the week ended May 12. Inflation during the previous week stood at 5.44 per cent.
They said further weakness in rupee against the US currency also had its positive impact on the trading sentiments, triggering buying in software exporters stocks as their 60 per cent earnings comes from the US.
IT segment index was the second most performer with a rise of 120.72 points higher at 4,959.36 points after stocks such as Infosys Technologies, Wipro, TCS, I-flex and Satyam Computer registered widespread gains.
The Asian markets slipped tracking the US markets. Other than Shanghai Composite all the Asian indices ended in red.
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