Relief rally: Indices snap five-day losing run; Sensex gains 574 points

Gains were led by heavyweights like RIL, Infosys amid strong global cues

The benchmark indices snapped their five-day losing streak on Wednesday amidst interest in index heavyweights and favourable global cues. The benchmark Sensex gained 574 points to hit 57,037, a gain of 1.02 per cent. The Nifty, on the other hand, ended the session at 17,136, a gain of 178 points, or 1.05 per cent.

RIL, which rose 3 per cent on Wednesday, contributed 244-points to the Sensex. The March quarter results posted by HDFC Bank and Infosys triggered a sell-off in IT and financial stocks as investors feared downgrades in earnings. Asian markets were also riding on positive cues from Wall