Market Wrap, July 1: Here's all that happened in the markets today

Equity benchmark indices, S&P BSE Sensex and NSE's Nifty50, ended around 1.5 per cent higher on Wednesday amid buying in financial counters. Meanwhile, improved Manufacturing PMI data for May and better June GST collection boosted investor sentiment.

The S&P BSE Sensex rallied 499 points or 1.43 per cent to end at 35,414.45 with Axis Bank (up 6.5 per cent) being the top gainer and NTPC (down over 2 per cent) the biggest loser. 

NSE's Nifty ended at 10,430, up 128 points or 1.24 per cent. Volatility index, India VIX, dropped around 3.5 pr cent to 28.10 levels.

In the broader market, the Nifty