The BSE barometer snapped a two-day losing run to recover by 473.45 points to 24,435.66, while the broader NSE Nifty reclaimed the 7,400 mark.

But the rally wasn't enough to wipe off earlier losses from the week as Sensex fell marginally by 19.38 points or 0.07 percent while Nifty shed 15.35 points or 0.20 percent, making it the third consecutive weekly drop.

"Market witnessed a relief rally in expectation of an additional stimulus from the ECB by March... Chinese data is pointing to stabilisation in the economy," said Vinod Nair Head-Fundamental Research Geojit BNP Paribas Financial.

Asian and European markets were positive after hints of more monetary stimulus by the European Central Bank (ECB) to help struggling euro zone economy and crude prices rebounding from over 12-year lows. In the international market, Brent crude rose USD 1.52, or 5.2 percent, to USD 30.77 a barrel.

Sentiment also got a boost from the rupee, which rebounded from 29-month lows by reclaiming Rs 67-level. The Sensex had resumed higher at 24,122.06 and firmed up further to 24,472.88 before finishing 473.45 points or 1.98 percent higher at 24,435.66, its biggest single-day gain since October 5.

The gauge had lost 517.63 points in the last two sessions. The 50-issue NSE Nifty after reclaiming 7,400, advanced to hit a high of 7,433.40 points, finally settling 145.65 points or 2 percent higher at 7,422.45.

Latest News  from Business News Desk