Sensex rallies 478 points; Nifty tops 11,350

New Delhi: Markets closed higher for second day on Tuesday led by gains in heavy weights amid positive global cues and sustained foreign fund inflows.

The BSE Sensex closed 477.54 points or 1.26 per cent higher at 38,528.32, while the NSE Nifty surged 138.25 points or 1.23 per cent to 11,385.35.

Major gainers in the Sensex pack were Ultrachem, Kotak Bank, ICICI Bank, Tata Steel, HDFC Bank, Asian Paint, Titan, Axis Bank, Maruti, ONGE, IndusInd Bank and RIL, rising upto 3.34 percent. On the other hand, major losers were Tech Mahindra, HCL Tech, Bajaj Auto, Power grid, Sun Pharma, NTPC, ITC, and M&M, falling upto 1.10 percent.

Foreign institutional investors bought equities worth Rs 332.90 crore on a net basis on Monday, provisonal exchange data showed.

Bourses in Shanghai and Hong Kong ended on a positive note, while Tokyo and Seoul were in the red. Stock exchanges in Europe were trading with significant gains in early deals.

Global oil benchmark Brent crude was trading 0.37 per cent lower at USD 45.20 per barrel.

In the forex market, the rupee settled 12 paise higher at 74.76 against the US dollar.

In the previous session on Monday, the 30-share index settled 173.44 points or 0.46 per cent higher at 38,050.78. Likewise, the NSE Nifty ended 68.70 points or 0.61 per cent up at 11,247.10.