Sensex was up by 111 points or 0.15 per cent at 72,776 points and Nifty was up by 48 points or 0.22 per cent at 22,104 points. Bank Nifty led the rally, went up by 333 points or 0.70 per cent, and closed at 47,754 points.

The Nifty Midcap 100 index closed at 49,735 points, up 203 points or 0.41 per cent. However, smallcap stocks were in the red and the Nifty Smallcap 100 index closed at 16,037, down 68 points or 0.43 per cent.

The Volatility Index (India VIX) was up by 2.13 points or 11.53 per cent at 20.60 points.

Buying took place in pharma, realty, metal, and IT shares. Pressure was seen on government banks, auto, and energy shares.

In the Sensex pack, 15 shares closed in the green mark and 15 shares closed in the red mark.

Asian Paints, Sun Pharma, HDFC Bank, TCS, and Axis Bank were the top five gainers, whereas Tata Motors, NTPC, SBI, Titan, and Bharti Airtel were the top five losers.

According to Rupak De, Senior Technical Analyst, LKP Securities, "The Nifty has formed a hammer pattern on the daily chart, indicating a potential bullish reversal following a correction."

"Additionally, the stock has found support around the previous swing low on the daily timeframe. However, the index's recovery may encounter resistance in the 22150-22200 zone, and only a decisive move above 22200 could trigger a stronger rally in the market. On the lower end, support is situated at 21950."