After falling for two sessions, the domestic equity indices rallied on Tuesday on the back of persistent foreign fund inflows and positive global cues.
The S&P BSE Sensex rallied almost 500 points intra-day before closing at 38,233.41, up 424.50 points, or 1.12%, over the previous close.
The 30-share Sensex touched the day’s high of 38,297.70, with 22 of the 30 stocks remained in green. Infosys, ITC, Larsen and Toubro, TCS, Bajaj Auto, Coal India, Hero MotoCorp and HDFC were the losers, losing between 0.01% and 1.23%.
Major gainers were NTPC, State Bank of India, Vedanta, Reliance Industries, ICICI Bank and Bajaj Finance gaining between 2.72% and 3.28%.
The broader NSE Nifty climbed 129 points, or 1.14%, to close at 11,483.25. It touched an intraday high of 11,496.75 and a low of 11,352.45. A stronger rupee offered support to the rally. The currency strengthened 10 paise to 68.86 against the greenback.
Barring IT and technology stocks, all the sectoral indices ended in the green.
According to Nagaraj Shetti - technical research analyst, HDFC Securities, Nifty witnessed an excellent upmove on Tuesday, after a downward correction of the last couple of sessions and closed the day on hefty gains.
“A long bull candle was formed today, that has filled the opening down gap of last session at 11435 levels. Technically, this pattern is signalling a sharp comeback of bulls in the market,” he said.
He said that a positive sequence like higher tops and bottoms is observed, as per daily time frame chart.
“Monday’s swing low of 11311 levels could now be considered as a new higher bottom of the sequence. As per this pattern, one may expect Nifty to move up further and crossed above the recent swing high of 11,572 levels in the next few sessions,” Shetti said.
Foreign institutional investors remained net buyers, pumping in Rs 150.40 crore, while domestic institutional investors sold shares worth Rs 12.52 crore Monday, provisional data showed.
Gaurav Ratnaparkhi, senior technical analyst, Sharekhan by BNP Paribas, said the Nifty on Tuesday witnessed a counter attack by the bulls that refused to succumb to the selling pressure.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "BSE")
)
The broader NSE Nifty climbed 129 points, or 1.14%, to close at 11,483.25. It touched an intraday high of 11,496.75 and a low of 11,352.45. A stronger rupee offered support to the rally. The currency strengthened 10 paise to 68.86 against the greenback. 
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}