The market made a smart recovery on February 14 to close higher led by gains in SBI and other PSU banks in a highly volatile session. The Sensex recovered 1, 023 points from the day's low to close 277.98 points, or 0.39 percent, higher at 71,833.17. The Nifty slumped to 21,530.20 but rebounded to end the day 97 points, or 0.44 percent, higher at 21,840.