Wall St gains drive Sensex to snap 2-day losing streak

Stocks snapped a two-day falling streak to close higher on Saturday buoyed by overnight gains on Wall Street, but investors remained cautious about European debt and the global recovery. The benchmark BSE Sensex ended up 0.79 per cent, or 124.72 points, at 15,915.65 in a special 90-minute trading session held by the stock exchanges to help the National Stock Exchange (NSE) test an upgraded trading system. The 50-share NSE index ended 0.82 percent higher at 4,757.25 points.

The Sensex, which fell 2.7 per cent on Friday to its lowest close in three months, dropped 2.7 per cent on the week to record its third straight weekly fall.

Setting the stage for a recovery on Dalal Street, US stocks rose on Friday, with the Dow Jones Industrial Average erasing a 167-point drop in the final hour of trading, on speculation the European Union may propose a solution for Greece’s budget deficit. The Dow Jones Industrial Average gained 10.05 points, or 0.1%, to 10,012.23. The Nasdaq Composite Index was up 15.69 points, or 0.74%, to 2141.12.

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