Sensex extends gains to 2nd day, up 364 pts on buying in oil stocks

The rupee appreciates by 2 paise to settle at 84.05 against the US dollar

MUMBAI: Benchmark Sensex recouped its early losses to close higher by nearly 364 points on Tuesday, extending gains to the second day on the back of late buying in banking and oil shares.

The 30-share BSE barometer climbed 363.99 points or 0.45 per cent to settle at 80,369.03 with 16 of its components ending higher and 14 closing lower.

The index opened lower and fell by 583.69 points to 79,421.35 in late morning deals. However, buying in banking, financial and oil shares in the second half helped recoup losses and close the day higher. The index hit a high of 80,450.48 in day trade.

The NSE Nifty rose 127.70 points or 0.52 per cent to 24,466.85.

Firm global trends and unabated buying by domestic institutional investors (DIIs) helped in the rebound, traders said.