Sensex closes 102 points up; late hour gains buoy markets (Third Lead)

Volatility prevailed in the Indian equity markets but late hour gains made on the back of value buying boosted a barometer index to provisionally close the day's choppy trade with gains of over 102 points on Wednesday.

Volatility prevailed throughout the day's trade. It was flared-up by investor's anxiety over the upcoming quarterly results, rising crude prices and profit bookings.

Furthermore, both bellweather indices of the Indian equity markets, which had rallied for the past five consecutive sessions were depressed after the International Monetary Fund (IMF) report downgraded India's growth to 7.3 percent for the current fiscal.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed with marginal gains. It ended the day's trade marginally up by 24.50 points or 0.30 percent to 8,177.40 points.

The barometer 30-scrip sensitive index (S&P Sensex) of the Bombay Stock Exchange (BSE) which opened at 26,966.86 points, provisionally closed at 27,035.85 points (3.30 p.m.) - 102.97 points or 0.38 percent up from its previous close at 26,932.88 points.

The Sensex touched a high of 27,082.28 points and a low of 26,877.51 points in the intra-day trade.

On Tuesday, the S&P BSE Sensex closed with gains of 147 points or 0.55 percent. Tuesday was also the fifth consecutive session of gains for the index.