Sensex Zooms 179 Points to 32776, Nifty at 10099

The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52

At 3:41 PM, the Sensex closed higher by 352 points or 1.08% at 32,949, while the Nifty50 gained 123 points or 1.22% to 10,167.

Weak Asian cues as technology stocks tracked a sell-off in their USA counterparts that saw the Nasdaq tumbling over 1 per cent overnight, weighed on the sentiments, brokers said. As the Nifty consolidated itself above 10,100-mark through the day, stock market saw a fresh spell of positive sentiment with Sensex gaining more than a 100 points in the last hour of trading. Investors seemed to be bargain buying after the recent fall. Benchmark Bank Nifty was also up by 205 points with both PSU and private banks contributing well.

Stocks of state-run oil marketing companies such as HPCL, BPCL and International Olympic Committee recorded gains of up to 1.83 per cent after global crude prices dropped by almost three per cent to trade below $63 a barrel.

Major index gainers were GAIL, Bharti Airtel, Tech Mahindra, UPL, Asian Paints, Maruti, Bharti InfraTel, Tata Steel and Bajaj Auto.

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"Upcoming state election in Gujarat and rupee movement against dollar ahead of U.S. tax reform will be keenly watched for further momentum in the market".

In the eurozone, key indices such as Paris CAC 40 and Frankfurt's DAX were up by 0.32 per cent and 0.55 per cent in their early deals.

Losers included Coal India, TCS, Wipro, Cipla, Sun Pharma, Dr Reddy's and IndusInd Bank.

Among the sectoral indices on BSE, power and metal indices slipped 1.06 per cent and 0.85 per cent. Telecom, Bankex and oil & gas indices closed higher by 0.83 per cent, 0.38 per cent and 0.16 per cent, respectively.

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