Markets End on a Positive Note Near Day's High

Markets bounced back after Wednesday’s drubbing and closed near the day's high tracking firm Asian peers and buying interest in oil & gas shares. The Nifty opened marginally higher and trended up, supported by buying in heavyweight Reliance Industries, ONGC, ICICI Bank and Larsen & Toubro. The S&P CNX Nifty touched a high of 5422 in the afternoon trades and closed near day’s high at 5,412, up 63 points. The Sensex was up 197 points, at 18,045. Foreign institutional investors (FIIs) have sold equities worth $1.74 billion (Rs 7,791 crore) in the Indian markets in the month of May, according to data compiled from the Securities & Exchange Board of India. The Dollar which was weighing heavily on equities and commodities eased to 75.26 from the recent high of 76.2 bringing relief to commodity related sectors across Asia. Hong Kong's Hang Seng was up 0.7% helped by resource shares. The Nikkei Stock Average surged 1.5% supported by gains in energy shares. China's Shanghai Composite index bucked trend, was off 0.2%.