Sensex rebounds from 15-mth lows, ends 200 pts higher

Recovering from its 15-month lowlevels, the Bombay Stock Exchange benchmark Sensex on Monday gained over 200points to end the day at 16,341.70 amid positive cues in European markets.

Brokers said the market sentiment improved as investorsbought fundamentally strong stocks at existing levels, encouraged by recoverytrends in European markets.

TRACK MARKET LIVE

Investors felt they perhaps over-judged the recent slump inglobal stocks, market players added. Driven by a meltdown in world equitymarkets, the benchmark had slumped 4.1 per cent last week, its lowest levelsince May last year.

In a similar fashion, the broad-based National Stock endedhigher by 53.15 points to 4,898.80.

Obama says US not to see another recession

Meanwhile, Europe's main stock markets rallied in themorning trade, with London and Paris going up.

After losing nearly 700 points in the previous two sessions,the 30-share index recovered sharply on the back of gains in blue-chips asReliance Industries and ONGC. RIL gained 3.43 per cent, followed by ONGC at by3.99 per cent.

Barring a fall in information technologies and banking, allother eleven sectoral indices closed with gains. Infosys, the second mostheaviest on the Sensex, fell 1.41 per cent and capped the gains to some extent.