Firm global markets and buying at lower levels helped Indian markets to close higher after trading in red all day. The markets staged a V-shaped recovery in the late afternoon, led by buying on the FMCG, metal and banking stocks. The 50-share National Stock Exchange Nifty recovered 106 points from day's low of 4,921, before closing the day at 5027 up by 24 points. The 30-share Bombay Stock Exchange Sensex went up 92 points to settle at 16,959, after seeing recovery of 336 points from day's low of 16,622.