Positive global cues and firm buying at lower levels helped the Sensex recover early losses and close higher. The Sensex swung 366 points from its low point of 16,622 to finish up 92 points at 16,958. The Nifty gained 24 points to close at 5,027 after hitting an intra-day low of 4,921. Constant buying was seen in metal, FMCG, banking and capital goods stocks while telecom, technology, cement, realty and oil marketing shares remained under pressure. The Oct Nifty future ended with 10 points premium.

The BSE FMCG index gained 3.2 %. Godrej Consumer shot up 8% and HUL up 5.27%. ITC and Colgate were up 2-3.7%

The metal index rose 2.2 %. Hindalco surged 6 % while JSW Steel and Sterlite Ind were up over 3 % each. Tata Steel up 2.7%, and Sesa Goa up 2.9%.

The BSE bankex also ended 1.9 % higher led by gains in Axis Bank and ICICI Bank stocks rose more than 3 % each. State Bank was up 1.2%.

Telecom stocks, however, remained under huge pressure. Idea Cellular, RCom and Bharti Airtel dropped over 8-10 % each.

In the realty space, DLF and Unitech were down over 1%.

In the Sensex pack Hindalco was the top gainer. The stock ended 6 % up at Rs 125. HUL surged 5.5 % and Reliance Infra ended 5.2 % higher.

RCom and Bharti Airtel, down over 10 % each, were the biggest losers in the group.