Mkts recover,Sensex ends 365 pts up

Similarly,the broad-based National Stock Exchange index Nifty rose by 110.65 points to 4,917.40 points.

The market opened higher on strong Asian trend and later in afternoon a higher opening in European stock markets further boosted the sentiment,brokers said.

Speculators covering their pending positions ahead of the expiry in the derivatives segment tomorrow also fueled the uptrend,they added.

Among 30 index components,24 stocks closed higher. All sectoral indices led by information technology,realty and metal were higher.

The IT sector index gained the most rising by 3.48 per cent to 5,106.68. IT stocks were in keen demand on sharp depreciation in the rupee value which fell above 47-mark. A rise in US dollar mainly boosted the revenue of the IT companies which collected major part of their income from abroad,brokers said.

The metal index gained 2.98 per cent to 14,388.26 as Sterlite Industries snapped a three-day slump,tracking a recovery in metal prices in international markets.

Infosys jumped 3.37 per cent to Rs 2,618.70. The two scrips carry nearly 23 per cent weigtage on the benchmark.

Bharat Petroleum Corp and Gail India rose after JPMorgan Chase upgraded the shares,citing a “more constructive view” on India’s refiners and energy distributors. Power Grid rose 2.1 per cent after reporting higher profits.

As the buying activity spilled over a wide-front,smallcap index rose by 1.67 per cent to 8,312.60 and midcap index by 1.46 per cent to 6,583.43.

Asian stock markets staged a rebound after a sharp cut on Tuesday caused by growing concerns over the stability of the European banking system. The key benchmark indices in Hong Kong,Japan,China,Singapore and Taiwan ended up between 0.12 per cent and 1.71 per cent.

European indices too displayed a strong trend in their late morning deals. The CAC was up by 2.88 per cent,the FTSE by 1.92 per cent and the DAX by 1.77 per cent.