Mumbai Sep 6 (IANS) A last hour spurt of value buying aided the key Indian equity indices to snap a six-day losing streak during a largely volatile trade session on Thursday.
According to market observers a healthy pick-up in healthcare oil and gas and banking stocks also lifted investors sentiments.
Earlier in the day s trade the downward spiral in the Indian rupee s value against the US dollar had subdued both the key indices. The Indian currency had breached the 72 per dollar mark for the first time.
Index-wise the Nifty50 on the National Stock Exchange closed at 11 536.90 points higher by 59.95 points or 0.52 per cent from its previous close of 11 476.95 points.
The benchmark S&P BSE Sensex which had opened at 38 161.85 points closed at 38 242.81 points higher by 224.50 points or 0.59 per cent from the previous close of 38 018.31 points.
It touched an intra-day high of 38 320.96 points and a low of 37 912.50 points.
"Markets bounced back on Thursday... The recovery was led by buying in the last one hour of trade and seems to have come on the back of value buying by investors " said Deepak Jasani Head of Retail Research at HDFC Securities.
"Broad market indices like the BSE Mid Cap and Small Cap indices gained less thereby underperforming the main indices. Market breadth was positive on the BSE/NSE.
"Major Asian markets have closed on a negative note barring the Jakarta index. European indices like DAX and CAC 40 are trading in the green."
Geojit Financial Services Head of Research Vinod Nair said: "After six consecutive days of fall on account of global trade tensions and weakening currencies market showed a recovery today helped by rally in index heavy weights."
"However caution prevails in the market due to weakening rupee which touched a fresh low of 72 today against USD high crude levels and escalating US-China trade tensions which may cause a slowdown in inflow to emerging markets. Pharma outperformed due to rupee depreciation."
On the currency front the Indian rupee settled at a record closing low of 71.99 against the US dollar weaker by 24 paise than its previous close of 71.75 per greenback.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 455 crore and domestic institutional investors bought stocks worth Rs 611.98 crore.
Sector-wise only the S&P BSE healthcare index gained 347.81 points followed by oil and gas index which rose 168.24 points and the banking index that edged-higher by 111.85 points.
In contrast the S&P BSE consumer durables index declined by 26.60 points the consumer discretionary goods and services index fell by 6.38 and Teck (technology entertainment and media) index ended 6.05 points lower than its previous close.
The top gainers at the Sensex were Reliance Industries up 2.80 per cent at Rs 1 260.15; Power Grid up 2.21 per cent at Rs 199.20; Coal India up 2.05 per cent at Rs 283.20; Sun Pharma up 2 per cent at Rs 676.65; and Kotak Bank up 1.76 per cent at Rs 1 260.35.
The majors losers were Yes Bank down 1.42 per cent at Rs 339; Maruti Suzuki down 1.33 per cent at Rs 8 772.30; ICICI Bank down 0.45 per cent at Rs 328.45; Infosys down 0.25 per cent at Rs 727.95 per share and Asian Paints down 0.20 per cent at 1 314.65.

--IANS ravi-rv/sed