The markets closed in the green on Thursday with both benchmark indices Nifty and Sensex recovering on the back of short covering in metals and rate sensitive sectors.
The BSE Sensex closed at 18,789 up 124 points or 0.67 per cent from its previous close and the NSE Nifty ended at 5,565 up 46 points or 0.84 per cent.
Jayant Manglik, President - Retail Distribution, Religare Securities said: "On Thursday, markets got a much needed breather as the Nifty recovered more than half percent after a flat start. And for second day in a row, market breadth was positive."
"Though a recovery in the rupee has triggered some bounce in equities, the overall move lacks conviction and the bears are still in control. Apart from the other factors, the prolonged correction in the banking sector is one of the key reasons for market weakness. On Monday, State Bank of India will announce its numbers and that will set the tone for this sector for the next several days," he added.
Except oil and gas and healthcare, all sectoral indices closed in the green led by metals and realty sector indices which rallied the most by 2.61 per cent and 2.35 per cent respectively.
Volatility was down with the India Vix index closing at 21.19, down 3.86 per cent from its previous close.
On the NSE, Ranbaxy, Hindalco, Cipla, Tata Steel and DLF were the top gainers while SBI, Sun Pharma, Lupin, Dr Reddy and Reliance Industries were the top losers.