MUMBAI: Fall in the global crude oil prices eased the concerns over the macroeconomic situation, helping the benchmark S&P BSE Sensex to broke its 4-session of losing string and flared up by a whopping 338 points to log its one-week closing high of 25,368.90.

Oil prices extended losses in Asia on fading fears that the fast-moving crisis in crude producer Iraq could result in a major supply disruption. U.S. benchmark West Texas Intermediate (WTI) was down 47 cents at $105.70 while Brent crude eased 19 cents to $113.93 in mid-morning trade.

Firm Asian cues after data showed that Chinese manufacturing grew in June for the first time this year, raising hopes for the economy, too boosted the sentiment.

Asian markets closed higher between 0.05 per cent and 0.98 per cent.

Hectic short-coverings ahead of the expiry of June contract on coming also aided the smart recovery.

Barring healthcare, 11 other sectoral indices closed with gains with realty, consumer durable, oil and gas, power, banking, metal and auto taking the lead.

Heavyweights like HDFC, RIL, ITC, ICICI Bank, TCS, SBI, Tata Motors, HDFC Bank, L&T, Axis Bank, ONGC and Gail India attracted good buying interest and closed sharp to marked gains, leading to smart rise in the Sensex.

The BSE 30-share barometer resumed strong in line with firm Asian markets and gradually improved further to settle at 25,368.90, revealing a rise of 337.58 points-biggest rise in absolute term since June 6, 2014 when it had shot up by 376.95 points- or 1.35 pct. In last four sessions, it had tumbled by 489.87 points or 1.92 pct.

The 50-issue CNX Nifty of the NSE also jumped 86.85 points or 1.16 per cent to 7,580.20.