At the domestic stock markets, the Sensex at the Bombay Stock Exchange today recovered smartly from initial losses, spurting 323 points, to close at 28,505. But in early trade, the Sensex had fallen 111 points. The Nifty surged 104 points, to 8,634. But stock markets in Japan, Hong Kong, South Korea, and Singapore declined between 0.4 percent and 1.2 percent. Back home, at the forex market, the rupee depreciated 3 paise, to 63.58 against the dollar, on dollar demand from banks and importers. Gold fell for the fourth straight day, losing 300 rupees, to a fresh 4-year low of 25,250 rupees per ten grams in Delhi. Gold fell on poor demand from jewelers, shifting of funds to equities, and a weak trend globally. Overseas, gold slipped to a five-year low, dropping over one percent, to 1,091 dollars an ounce.