Sensex ends 68 points higher

Higher global markets helped the Sensex to close higher though it gave up a lot of its gains toward the end of the session. The Sensex closed at 18,090.62, up 68.40 points. At its day's high the Sensex had touched 18,306.00.



Stocks in Asia rose in early trading on Wednesday, following in the footsteps of shares in the U.S. that were boosted by strong earnings and positive economic data. Stocks in Europe were also higher in early trade.

Oil prices hovered below $91 a barrel Wednesday in Asia as a report showed U.S. gasoline and crude supplies rose more than expected last week, suggesting a demand recovery remains uneven.

Japan's benchmark Nikkei 225 stock average was up 2 percent to 10,475.1. Markets in China, Korea and Taiwan were closed Wednesday for the Chinese Lunar New Year.

Shares in Singapore were higher, as were shares in Hong Kong, which was scheduled for only a half-day of trading. Australia's S&P/ASX index was up 0.9 percent at 4,796.50. Shares in New Zealand, the Philippines and Indonesia were also higher.

The gains came after a strong showing on Wall Street, where the Dow Jones industrial average gained 1.1 percent, to 12,020 and the broader S&P 500 rose 1.6 percent to 1,306. Both closed at their highest levels since mid-2008.

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