The Indian market closed higher on Thursday led by a sharp rise in metals, banking and financial stocks. At close, the BSE Sensex closed 500 points to 44,329.88 while the NSE Nifty50 index settled at 13,015, ended 157 points. Broader markets settled nearly one percent higher. Nifty Midcap-100 index closed 0.88 percent and the Nifty Smallcap-100 index and 0.9 percent higher.

All sectors settled in the positive territory, with Nifty Metal as the best-performing index of the day. It ended 3.8 percent higher followed by Nifty PSU Bank and Nifty Financials.

Nifty Bank recovered losses towards the end of the session and some of the PSU Banks gained considerably. Dewan Housing Finance locked in a 5 percent upper circuit after the company managed to cut its losses in the Q2 period.

JSW Steel, Tata Steel, Grasim, Hindalco and Shree Cement were the Nifty50 top gainers while Eicher Motors, BPCL, ONGC, Maruti Suzuki and HDFC Life Insurance remained the index top losers.

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