The Bombay Stock Exchange benchmark Sensex on Wednesday surged by 500 points in pre-close trade on agressive buying in metal, refinery and software stocks by funds driven by firm global cues.

The Sensex, which remained weak in the last three trading sessions, bounced back to record a gain of 499.85 points at 17,191.85 points at 1430 hrs.

The wide-based National Stock Exchange index Nifty shot up by 149.20 to 5,135.05 points at the same time.

Marketmen said firm global cues boosted the market sentiment on the domestic market.

Asian stock markets, led by Hong Kong’s Hang Seng which Hong Kong gained 1.12 per cent, closed in the positive zone, while European bourses posted gains in opening trade, supporting the uptrend at the domestic bourses.

The buying activity was further got support as brokers who had created huge short positions in previous bearish trend, were seen winding up ahead of the settlement in the derivatives segment.

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