Backed by encouraging wholesale price index (WPI)A inflation data and last minute buying, the benchmark Sensex recovered from its day low and ended the session at 21,809.80, up by 35.19 points. Despite a sharp recovery in the equity markets, rupee remained weak and closed two paise down at Rs 61.19 per dollar.
As per market experts, with inflation showing signs of easing, investors and institutions again started buying which pushed Sensex back into the positive territory. Also, investors are again hoping that the Reserve Bank of India might consider of cutting interest rates in its April monetary policy review, experts added. WPI inflation eased to a nine-month low of 4.68 per cent in February.
Sensex started the session 144 points lower and further declined to an intra day low of 21,573.48. Overall, Sensex recovered by over 230 points and ended the week at a positive note. The broader index, Nifty also added 11.10 points to end at 6,504.20. Off the 30 stocks comprising the Sensex, 16 advanced while 13 declined.