Sensex up 219 points

Sensex closed a hefty 218.74 points, or 1.23 per cent, higher at 17,933.14 points, a day after falling from its two-year high level. NSE’s 50-share Nifty also settled with a net rise of 1.08 per cent at 5,361.75 points.

On a weekly basis, the Sensex extended gains for the ninth week in succession on the back of sustained buying momentum since early February.

The barometer had lost over 250 points on Friday on fears of high food prices leading RBI signalling a hike in interest rates amid a steep fall in bourses across the world.
The sentiment turned bullish on Friday, marketmen said, as the sharp decline in the previous day bas brought the valuations lower and presented a fantastic opportunity to investors to buy them back. Expectations of a healthy fourth quarter earnings by companies helped sustain the momentum throughout the day, they added. The earning season starts with Infosys announcing its numbers on April 13.