New Delhi: The benchmark BSE Sensex recovered over 258 points on Wednesday due to low level buying in metal, realty and banking stocks after recent losses.
Speculators covering up their short positions ahead of the August derivatives contract expiry tomorrow added to the upward move.
The BSE 30-share barometer rebounded by 258.07 points to end at 31,646.46. It moved between 31,727.98 and 31,533.02 in intra-day trade.
The gauge had lost 362.43 points in the previous session in line with a general weakness across the globe fuelled by North Korea's missile launch over Japan.
All the sectoral indices led by metal, realty, infrastructure and banking were in the green, adding up to 2.23 percent.
The NSE Nifty also ended at 9,884.40, up 88.35 points after moving in range of 9,909.45 and 9,850.80.
Traders said a rebound at other Asian markets as investors shrugged off geopolitical tensions a day after North Korea fired a missile that flew over northern Japan influenced trading sentiments here.
Besides, fresh spell of buying by retail investors and uninterrupted buying by domestic institutional investors (DIIs) helped recover the market.
RIL surged the most among Sensex components gaining 2.12 percent, followed by Adani Ports (1.94 percent).
Other gainers included HDFC, Cipla, Axis Bank, Tata Steel, ICICI Bank, Hero MotoCorp, Maruti Suzuki, Coal India, SBI and Tata Motors, rising by up to 1.83 percent.
In Asian trade, Japan's Nikkei which hit a four-month low Tuesday, gained 0.74 percent, or 143.99 points, to end at 19,506.54, while the Topix index of all first-section issues rose 0.62 percent, or 9.89 points, to close at 1,607.65.
The US Dow Jones Industrial Average ended higher by 0.26 per cent yesterday.
