Markets End In Green

Markets recovered most of Monday's losses on hopes of a settlement to the CMK-Congress seat sharing tussle. Easing oil prices also buoyed investor sentiments globally. BSE Sensex had opened 18,277 and traded firm throughout the day. The benchmark extended gains in the last half hour of trade and touched a high of 18,467 on gains in the IT and banking space. The index finally ended up 216 points (1.2%) at 18,439. On Monday, the Sensex had tumbled 264 points on the back of geo-political concerns, rising oil prices and domestic political turmoil. The Nifty also moved in the positive zone touching a high of 5,531 and settled finally at 5,520 - up 57 points. Dravida Munnetra Kazhagam (DMK)'s decision to put on hold the resignation of its six ministers from the UPA government seemed to comfort the markets. However, the seat sharing decision can give rise to more problems for the Congress. Globally markets were up on easing worries of crude oil prices going up further as oil receded from its highest in 29-months. Reports suggest that UAE and Nigeria may join Saudi Arabia in increasing output to make up for a drop-off in Libyan oil. Asian markets ended in the positive zone. The Hang Seng jumped 1.7% to 23,711. Nikkei managed to advance 20 points to 10,525. Seoul Composite added 0.8% to 1,996. Bourses in USA had dropped on Monday as technology stocks showed weakness. The Dow dropped 80 points to 12,090. The S&P 500 fell 0.83%, to 1,310. The Nasdaq Composite lost 1.4% to 2,745.