Benchmark Indices close higher, Sensex adds over 500 pts, Nifty up by 194 pts

Markets to witness a near-term reversal: Arun Kumar S, Market Strategist, Reliance Securities Ltd.

The 30-share Sensex rose 578.51 points on Tuesday to close at 59,719.74 while its broader peer, Nifty50 ended at 17816.25, up 194 points, ahead of Federation meeting which is expected to hike interest rates.

In almost all the sectors, buying interest was noticed.

Sun Pharma was the topmost gainer in the 30-share pack, rising 4.71 per cent to 915.75, IndusInd Bank rose 3.12 per cent, Dr Reddys Labs went up 2.88 per cent and Tata Steel rose 2.62 per cent. Those who ended in the gains were Titan, Bajaj Finserv, ICICI Bank and Asian Paints.

Among the sectors, Nifty Pharma index rose 3.08 per cent while Nifty Consumer Durables went up 2.12 per cent. Nifty Midcap50 and Smallcap50 increased 1.26 per cent and 1.04 per cent respectively.

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