New Delhi: After spending most of the day in negative terrain, the markets on Wednesday ended in green due to brisk closing trade.
The recovery came in during the final hour of trade on the back of buying seen in banking, auto and metal stocks.
Shaking off a three-day losing streak, the benchmark Sensex advanced by over 16.05 points on Wednesday on fag-end buying in heavy-weight stocks.
The Sensex, which was under selling pressure since the last three trading sessions, initially remained weak during the day but ended higher by 16.05 points at 13,781.51, after touching the day's high of 13,806.37 and a low of 13,612.004.
Similarly, the National Stock Exchange's Nifty index moved between 4,087.80 and 4,030.55 points, before closing higher by 2.30 points at 4,077.
Initially, the market declined on selling in information technology stocks led by Sensex-heaviest Infosys Technologies, as market judged the gain in the rupee against dollar would hurt earnings.
The rupee held at a high. Capital flows into the country increased, helping the rupee rise for nine weeks through May 4, the best run since May 2003.
However, a rise in heavy-weight banking and steel stocks wiped off early losses and supported the market to end with moderate gains.
Banking index gained 98.71 points at 6,851.35, capital goods index by 45.57 points at 9,945.29 and metal index by 34.35 points at 9,966.89.
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