Sensex closes up 202.68 points

The wide-based National Stock Exchange index Nifty shot up to 4,492.80 before ending at 4,453.45,revealing a net gain of 59.35 points.

Marketmen said the benchmark fell 5.5 per cent this month on worries that the weak monsoon will hit crucial rural demand and pose a hurdle to economic recovery.

They said high valuations and looming inflation weighed on investor confidence,restricted today8217;s surge.

Trading sentiment improved after a surge in Asian stock markets and a better opening in Europe this afternoon. China8217;s Shanghai composite index spurted 4.52 per cent,Hong Kong8217;s Heng Seng index 1.88 per cent,Japan8217;s Nikkei 1.76 per cent and Singapore8217;s Straits Times 1.46 per cent.

Market players were optimistic that global economic recovery would start with China,brokers said.