The Sensex, which was down almost 1.5%, recovered after State Bank of India reported a good set of numbers. The Sensex ended the day up 82 points at 16152 points, while the Nifty ended the day higher by 21 points.

European stocks were trading in the red once again, after the Spanish banks were downgraded. Escalating economic problems in Spain, added to the problems in Greece. The French CAC, The German DAX and UK's FTSE were all trading lower.

Among the star performers were SBI, which rallied more than 4/5, following a good set of Q4 numbers. Among the other shares that gained today were Sesa Goa, NTPC and IDFC. Among the shares that lost ground today were Tata Motors, Ambuja Cements and Bajaj Auto.

Markets are expected to track global cues, despite the fact that today the markets chose to ignore weak European and Asian markets.

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