Indian Market:
Sensex recouped more than half of Tuesday's losses by gaining 167 points while the Nifty closed above 5300 level, led by positive global cues and short covering. Equity benchmarks were volatile with negative bias in first half of trade while second half of trade was the recovery period for the markets.
30-share BSE Sensex closed at 17,534.09, down 240.17 points or 1.35% and the 50-share NSE Nifty shed 77.35 points or 1.45% to settle at 5,256.15.
Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world's third-fastest-growing major economy.
Global Cues:
Asian stocks fell for a second day on Wednesday as a slump in US consumer confidence fueled concerns about the strength of the global economy. The key benchmark indices in Taiwan, China, Hong Kong, South Korea, Japan, Indonesia and Singapore fell by between 0.55% to 2.13%.
The International Monetary Fund is working to develop new lending instruments for economies hit by crises that are not of their own making, IMF Managing Director Dominique Strauss-Kahn said.
A World Trade Organization report on aid for European plane maker Airbus, expected to condemn the European Union for illegal subsidies, will be published later on Wednesday, trade sources said.
Sensex recouped more than half of Tuesday's losses by gaining 167 points while the Nifty closed above 5300 level, led by positive global cues and short covering. Equity benchmarks were volatile with negative bias in first half of trade while second half of trade was the recovery period for the markets.
30-share BSE Sensex closed at 17,534.09, down 240.17 points or 1.35% and the 50-share NSE Nifty shed 77.35 points or 1.45% to settle at 5,256.15.
Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world's third-fastest-growing major economy.
Global Cues:
Asian stocks fell for a second day on Wednesday as a slump in US consumer confidence fueled concerns about the strength of the global economy. The key benchmark indices in Taiwan, China, Hong Kong, South Korea, Japan, Indonesia and Singapore fell by between 0.55% to 2.13%.
The International Monetary Fund is working to develop new lending instruments for economies hit by crises that are not of their own making, IMF Managing Director Dominique Strauss-Kahn said.
A World Trade Organization report on aid for European plane maker Airbus, expected to condemn the European Union for illegal subsidies, will be published later on Wednesday, trade sources said.
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