Sensex higher by 454 points, Nifty closes above 17,500

Indian equity benchmarks soared on Thursday, led by advances in index heavyweights such as Reliance Industries, Infosys, Kotak Mahindra Bank, HDFC Bank, ITC, Bharti Airtel, and Tech Mahindra.  The benchmarks began the day lower but quickly recovered its losses, with the Sensex gaining as much as 758 points from the day's low point, and the Nifty 50 reclaiming its critical psychological threshold of 17,500 after touching an intraday low of 17,351.

Finally, the Sensex closed 454 points higher at 58,795 points, while the Nifty 50 index advanced 121 points to 17,536 points.

Reliance Industries was the top Nifty gainer, rising over 6percent to an intraday high of Rs. 2,502. According to BSE data, a rally in Reliance shares contributed almost 400 points to the Sensex's rise. Divis Labs, ITC, Infosys, and Tata Consumer Products were among top Nifty gainers while Maruti, Britannia, IndusInd Bank, Indian Oil and Hindustan Unilever were top laggards.

IT was the best-performing industry, followed by pharma and metal indices, although heavyweight financial services remained under selling pressure.

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