Closing Bell: Last Hour Rally Helps Sensex, Nifty Covers Losses

File photo of Bombay Stock Exchange (BSE).

(Photo: BloombergQuint/Altered by The Quint)

Indian equity benchmarks rallied during the last hour trade, erasing most of the losses clocked in the last two trading sessions. The S&P BSE Sensex ended 1.12 percent or 424.50 points higher at 38,233.41, after jumping nearly 500 points intraday.

The NSE Nifty 50 ended at 11,483.25, up 1.14 percent. The broader market index represented by the NSE Nifty 500 Index ended 1.18 percent higher.

The market breadth was tilted in favour of buyers. About 991 shares advanced and 754 stocks declined on National Stock Exchange. Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU bank Index’s 3.13 percent gain. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.39 percent.