The BSE benchmark Sensex today erased early losses to close 35 points higher at 21,809.80 on fag-end value buying in select, blue-chip stocks available at attractive levels, amid WPI inflation easing to nine-month low of 4.68 per cent in February.
Asian and European indices were weak as investor fears that China is entering a deeper slowdown were heightened after data showed Chinese industrial production and retail sales grew slower than analysts expected.
A referendum in Crimea over its bid to break away from Ukraine and join Russia also added to investory jittery.
"The Indian benchmark indices were seen inching lower and maintained that bias as the day progressed. In fact, the announcement of WPI data ... Failed to trigger any positivity in domestic bourses," said Jayant Manglik, President, Retail Distribution, Religare Securities.
However, a sudden buying in the last hour helped the Sensex close the day highet, he added.
The 30-share BSE barometer resumed 144 points lower in line with weakness in Asian stocks. It declined further to a low of 21,573.48, down by over 200 points.
But a sudden emergence of fag-end value buying in select, blue-chip scrips pushed the Sensex up to 21,809.80, a gain of 35.19 points or 0.16 per cent.
Yesterday, it had closed by 81.61 points lower.
The NSE 50-issue CNX Nifty also added 11.10 points or 0.17 pct to end at 6,504.20.
Major gainers were BHEL 2.54 at per cent, L&T 2.46 per cent, Dr Reddy's Lab 1.53 per cent, Cipla 1.47 per cent, Tata Steel 1.47 per cent, Sun Pharma 1.42 per cent and Tata Motors 1.37 per cent
Wipro fell by 2.90 per cent, Bharti Airtel 1.93 per cent, Axis Bank 1.80 per cent, HDFC Bank 1.42 per cent, HDFC 1.41 per cent and HUL 1.10 per cent.
