Sensex, Nifty Recover After Early Slide

(RTTNews) - Indian shares recovered from an early slide to end higher on Thursday, tracking an intraday recovery in European markets and a sharp fall in oil prices.

While other Asian markets ended broadly lower on worries about a possible recession and uncertainty about the COVID situation in China, European markets cut early losses to trade on a flat note.

Oil prices fell around 2 percent in European trade as a surge in COVID-10 cases in China, the largest importer of crude in the world, dampened hopes for an improvement in fuel demand.

The benchmark S&P/BSE Sensex ended the session up 223.60 points, or 0.37 percent, at 61,133.88 after trading in the red for most of the session.

Likewise, the broader NSE Nifty index reversed course to settle 68.50 points, or 0.38 percent, higher at 18,191 led by banks, metal and telecom shares amid short-covering owing to the monthly F&O expiry.

The rupee traded slightly higher in the afternoon as a result of a weakening dollar in international markets.