Late buying lifts Sensex, Gujarat polls take centrestage

The Sensex overcame early losses and ended with a gain of 194 points today on fag-end buying as investors turned their attention to the second phase of Gujarat elections.

The NSE Nifty went above 10,250-mark. India's economic growth has bottomed out and will recover further to 7 per cent over the next few quarters, but it is likely to take a few years to return to 7.5 per cent above levels, Standard Chartered said in its report.

The 30-share BSE Sensex bounced back in the last one hour of the session to hit a high of 33,321.52 before closing up 193.66 points -- or 0.59 per cent -- at 33,246.70.

The gauge had lost 402.75 points in the previous two sessions disappointed by grim economic data and the ADB lowering India's economic growth forecast. The 50-issue NSE Nifty in range-bound movements settled higher by 59.15 points, or 0.58 per cent, at 10,252.10. Intra-day, it shuttled between 10,276.10 and 10,141.55. An appreciating rupee against US dollar gave more support.