Mumbai, Oct 16 (IANS): Lessened chances of a US rate hike, buoyant Asian and European markets coupled with bargain hunting propelled a barometer index of the Indian equity markets to provisionally close with gains of 204 points or 0.76 points on Friday.

The late-hour buying spree buoyed the Indian markets, as investors cheered on the lessened possibility of a rate hike in the US.

Furthermore, buoyant Asian and European markets supported the late trading hour rally.

Initially, both the bellwether indices opened higher. However, both indices ceded their initial gains due to caution over the upcoming quarterly results which included earnings figures of bluechips.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) provisionally closed in the positive territory. It was higher by 59 points or 0.72 percent at 8,238.15 points.

The barometer 30-scrip sensitive index (S&P Sensex) of the Bombay Stock Exchange (BSE), which opened at 27,062.80 points, provisionally closed at 27,214.60 points (at 3.35 p.m.) -- 204.46 points or 0.76 percent up from its previous close at 27,010.14 points.

The Sensex touched a high of 27,239.22 points and a low of 26,917.12 points in the intra-day trade.

The barometer index had closed with gains of 230 points or 0.86 percent on Thursday.