Extending gains for the second day, the Indian market ended 1.5% higher on the back of positive global cues. Benchmarks Nifty and the Sensex gained 1.49% and 1.53% respectively in Thursday's closing as auto stocks continued to lead the recovery. The Nifty50 gained over 250 points to close at 17,393 at and the Sensex added nearly 900 points to end at 57,912.

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Bulls came back strongly today after a pretty long wait, helped by the Energy sector which is seeing robustness in gross refining margins, said S Ranganathan, Head of Research at LKP securities.

"Almost all sectoral indices led by Automobiles traded in the Green with the volatility index cooling off. Accumulation seen in some of the big boys which led the fall during the last one week helped the Bulls get back strongly today," added the expert.  

Meanwhile, In the broader market, Nifty midcap and smallcap rose nearly 1-2% as India Volatility Index (VIX) closed below 18-mark.  

The Nifty Bank too gained nearly 500 points as the 12-share banking index ended near 36,800.  

Sectorally, Nifty Auto gained more than 2%, and was well supported by Banking and Financial Services, IT, Consumer Durables and Realty as they all ended 1% higher on Thursday.  

Among stocks, Eicher Motors, Coal India, Kotal Bank, Maruti, Mahindra & Mahindra, RIL, HDFC Ltd, Bajaj Finserv and Asian Paints supported the benchmarks the most . Cipla, Hindalco, Tata Steel, ONGC, JSW Steel, Nestle India and Bharti Airtel were top laggards.