Markets breathe easy on US cues, Sensex ends 125 pts higher

After two days of mayhem, the markets got a reprieve on Saturday on a special 90-minute session with the benchmark Sensex gaining 125 points on all-round buying driven by positive cues from the Wall Street overnight.

After two days of mayhem, the markets got a reprieve on Saturday on a special 90-minute session with the benchmark Sensex gaining 125 points on all-round buying driven by positive cues from the Wall Street overnight.

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The Bombay Stock Exchange benchmark Sensex resumed higher by 142 points and touched an intraday high of 15,951.07 points before ending at 15,915.65, a net rise of 124.72 points or 0.79 per cent from its last close, when it crashed by 434 points on global cues.

Significantly, all the sectoral indices ended in the green, with the worst hit sectors in the past two sessions--realty, metals, oil & gas and IT counters-- leading the rally.

The National Stock Exchange's 50-share Nifty also shot up by 38.60 points or 0.82 per cent to finish at 4,757.25 from its previous close, after opening over 42 points.

US stocks rose yesterday on speculation that the European Union may propose a solution for Greece's budget deficit. The Dow Jones Industrial Average closed flat after rising 163 points intraday due to last hour profit booking, while Nasdaq gained 0.74 per cent and the S&P 500 0.29 per cent.

The markets also got some consolation from the chairman of the Prime Minister's economic advisory council C Rangarajan, who had yesterday said the government might not roll back the economic stimulus measures at a go and efforts could be be made in the budget to lower fiscal deficit, said marketmen.