Sensex reclaims 33,000 mark, rallies 346 points

The Sensex staged a strong comeback to reclaim the key 33,000-mark on Thursday, surging over 346 points to close at a one-week high of 33,107.

In the process, it reversed its three-session losing spell as Reliance Industries Ltd (RIL) led the rally after global crude prices dropped. Infosys, too, posted gains.

The Sensex hit the day’s high of 33,165.15 points, before ending up 346.38 points, or 1.06%, at 33,106.82 — its highest closing since November 10 when it ended at 33,314.56.

The Sensex had lost 554.12 points in the last three sessions on subdued exports, higher inflation and muted secondquarter earnings of some firms.

The NSE Nifty also closed at 10,214.75, a gain of 96.70 points, or 0.96%, after touching a high of 10,232.25 and a low of 10,139.20.

Both the indices recorded their single-biggest gains since November 1.

There was widespread valuebuying amid firm global cues.

Oil markets stabilised on Thursday as expectations that the Organisation of Petroleum Exporting Countries (OPEC) would extend production limits balanced rising US crude production and inventories.

Brent crude oil was up 20 cents a barrel at $62.07 by 0830 GMT. US light crude was 10 cents higher at $55.43 a barrel.

PTI AND REUTERS

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