Sensex rallies 333 pts in preclose trade

The benchmark BSE Sensex rose over 333 points in preclose trade on a late surge as investors indulged in buying blue-chip stocks at prevailing levels.
The BSE 30-share barometer resumed lower on sustained selling and touched a low of 25,104.50.
It, however, staged a strong comeback on value-based buying in heavy weight stocks in preclose trade to quote 333.47 points, or 1.32 per cent, higher at 25,523.95.
All sectoral indices led by oil and gas, PSUs, banking, capital goods and power were back in positive territory with a gains up to 2.32 per cent.
The 30-share Sensex had lost 385.73 points in the previous two sessions.

Brokers said emergence of buying by funds in stocks that had recently recorded losess and a higher opening in the European markets reversed an early downward trend.
Besides, a strong recovery in the rupee which rebounded from six-week low of Rs 60.51 to Rs 59.95 in late afternoon trade also helped trading sentiments to improve.
Similarly, the National Stock Exchange index Nifty recovered by 90.45 points, or 1.20 per cent, to 7,624.00 after dipping to 7,509.25 in early trade.