Sensex recovers by 14.23 pts; closes at 12,543.85

Mumbai, Mar 15: The Sensex today recovered by a modest 14.23 points on the Bombay Stock Exchange to settle in the green at 12,543.85, taking cue from northward bound global markets.

Among the broader markets, the Nifty Index also gained by 2.50 points at the National Stock Exchange (NSE) to end at 3643.60 from its previous close of 3641.10 points.

''All Asian markets are trading with gains today. Even US stocks recorded gains yesterday,'' experts pointed out.

''The Sensex began declining in the second half of the session after a strong showing in the first half. Volatility was the trademark of today's session and the trend will continue throughout the month. However, healthy corporate results in April should usher in some stability,'' market analysts opined.

All Asian markets recorded recoveries. The Nikkei Average rose 1.10 per cent, led by exporters such as Canon Inc, as concerns about their earnings receded following a recovery in US stocks and the Yen's retreat against the dollar. The Nikkei closed up 183.50 points, at 16,860.39. The broader TOPIX Index rose 1.15 per cent, to 1,694.18.

The Hang Seng Index was up 132.51 points (0.70 per cent), to 18,969.44.

US stocks posted modest gains yesterday, as worries eased about losses for firms operating in the subprime mortgage sector, which lends to borrowers with a weaker credit history, might spill over into the wider economy and slow growth. The Dow Jones Industrial Average gained 57.44 points (0.48 per cent), to settle at 12,133.40.

The Nasdaq Composite Index advanced by 21.17 points (0.9 per cent), to 2,371.74.

UNI